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One more tax question

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  • One more tax question

    In all the reading I've done, from what I can tell tuition to private school is not tax deductible even if the school has a nonprofit status. However, we get a letter from my daughter's school each year that states "A portion of your tuition costs may be deductible on your taxes. During the period of January 2011 through December 2011, you paid the school _$X,XXX____.

    [School name] is a not-for-profit, parent owned and directed educational facility supported solely by tuition, fees and fundraising. The Internal Revenue has determined that we are tax exempt under section 501(c) (3) of the Internal Revenue Tax Code. Our tax-exempt number is [id].

    Remember that the amount you may deduct will vary depending on the age of the child, your employment situation and other factors."

    Not sure how to interpret this. I can't find anywhere where I might be able to deduct this.

  • #2
    The amount is used to determine childcare tax credit. (Depending if you are employed and how old the child is - why they mention that part).

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    • #3
      But you get the childcare tax credit regardless of whether its a nonprofit or not, correct? Not sure why that would be relevant.

      On the other hand, this clears up a lot for me so thanks!

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      • #4
        Originally posted by riverwed070707 View Post
        But you get the childcare tax credit regardless of whether its a nonprofit or not, correct? Not sure why that would be relevant.

        On the other hand, this clears up a lot for me so thanks!
        Yeah, I don't really know why they mention the nonprofit part. Probably just to cover their butt and so they don't have to change the wording every time the tax code changes.

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        • #5
          Perfect. Thanks!

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