Tax Breaks for Education In 2018, M college full-time and they claim all three as dependents. Philip also has education related expenses for himself. They paid for the following expenses argery and Philip Brown have three children attending 1. Their daughter, Amy, is a Masters student in both Spring 2018 and Fall 2018 at Wake Forest where she received a scholarship for part of her tuition. Her parents paid a total of tuition of $10,000 and room & board of $6,000 (all paid in 2018). Amy purchased her own textbooks at a cost of $1,000 2. Their son, Brad, is a freshman in Spring 2018 and a sophomore in Fall 2018 at Western Carolina. His parents paid a total of tuition and fees of $6,400 and room & board of $5,800 (all paid in 2018) 3. Their daughter, Elizabeth, started at UNC-CH as a freshman in Fall 2018. She receives a scholarship that covers her tuition but her parents paid required fees of S1,000. Her parents also paid room & board of $4,600 and textbooks for $1,400 4. Philip is a self-employed lawyer. He completed continuing education courses that are required to meet the requirements of North Carolina State law and cost $3,000. (You can ignore any effects on self-employment tax.) 6. Philip is also paying off student loans from law school. He paid S3,200 of interest in 2018 state income tax payments real estate taxes home mortgage interest AGI before the effects of education related deductions 130,000 6,900 3,500 9,600 5,400 Tax Breaks for Education In 2018, M college full-time and they claim all three as dependents. Philip also has education related expenses for himself. They paid for the following expenses argery and Philip Brown have three children attending 1. Their daughter, Amy, is a Masters student in both Spring 2018 and Fall 2018 at Wake Forest where she received a scholarship for part of her tuition. Her parents paid a total of tuition of $10,000 and room & board of $6,000 (all paid in 2018). Amy purchased her own textbooks at a cost of $1,000 2. Their son, Brad, is a freshman in Spring 2018 and a sophomore in Fall 2018 at Western Carolina. His parents paid a total of tuition and fees of $6,400 and room & board of $5,800 (all paid in 2018) 3. Their daughter, Elizabeth, started at UNC-CH as a freshman in Fall 2018. She receives a scholarship that covers her tuition but her parents paid required fees of S1,000. Her parents also paid room & board of $4,600 and textbooks for $1,400 4. Philip is a self-employed lawyer. He completed continuing education courses that are required to meet the requirements of North Carolina State law and cost $3,000. (You can ignore any effects on self-employment tax.) 6. Philip is also paying off student loans from law school. He paid S3,200 of interest in 2018 state income tax payments real estate taxes home mortgage interest AGI before the effects of education related deductions 130,000 6,900 3,500 9,600 5,400
