Money Talk: Education Tax Breaks Can Be Baffling
Question: I am confused regarding my ability to take advantage of the American Opportunity Credit for college expenses in filing my 2014 tax return. My accountant told me I didn’t qualify because my adjusted gross income exceeds $80,000. Yet when I researched on the IRS website, I seem to qualify. I paid qualified education expenses for my son to get an MBA and am claiming him as a dependent on my return, since he is unemployed and I...
