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Deduction for Higher Education Expenses

The tuition deduction ? which allows qualifying taxpayers to deduct $2,000 or $4,000 of qualifying tuition expenses ? is on the books for 2006 and 2007. The deduction helps subsidize post-high school education expenses you pay for you, your spouse, or your dependents. Before you use this deduction, however, check out the two tax credits available for college tuition. They have stricter income limits to qualify, but the credits are more valuable. Read Entire Article