Deduct education for non-dependent child?

#4 08-09-2003, 02:04 AM

- quote -

> > Can I deduct educational expenses for my non-dependent child?
> > > I'm paying education expenses for my son, age 20, a
> > full-time student. He is not my dependent; I'm divorced, and
> > he's his mother's dependent. But I'm paying about $13,000 a
> > year in tuition and living expenses. I paid this amount, at
> > least, in 2001, 2002 and now again in 2003. It's not paid in
> > a lump sum, but through the year. I'm not obligated to pay
> > it by any child support agreement; I just pay it to help him
> > out.
> > > Can this lower my tax in any way? As a gift? As a deduction
> > for education expenses?

> If you can not claim the dependency exemption for your son,
> then there is no tax benefit available to you (no credit, no
> deduction) for the education expenses you incur on his
> behalf. The educational expenses you pay for your son are
> considered a gift to him.

if paid directly to the institution, not a taxable nor a
reportable gift.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

#3 08-08-2003, 07:58 AM

John Smith" <johnsmigh[at]yahoo.com> wrote:
- quote -

> "Lawn Care Pro" <inthesuburbs[at]hotmail.com> wrote:

> > Can I deduct educational expenses for my non-dependent child?
> > > I'm paying education expenses for my son, age 20, a
> > full-time student. He is not my dependent; I'm divorced, and
> > he's his mother's dependent. But I'm paying about $13,000 a
> > year in tuition and living expenses. I paid this amount, at
> > least, in 2001, 2002 and now again in 2003. It's not paid in
> > a lump sum, but through the year. I'm not obligated to pay
> > it by any child support agreement; I just pay it to help him
> > out.
> > > Can this lower my tax in any way? As a gift? As a deduction
> > for education expenses?

> You are a good man!
> You may want to watch out for Gift Tax 10K limit/yr, but I
> am not an expert in taxes. You will get more replies to your
> post, just wait a bit.

Tuition paid to the school does not count against the
$11,000 individual annual limit. Direct payment of medical
bills for another individual also doesn't count against the
annual exclusion.

Alan
http://taxtopics.net

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#2 08-08-2003, 02:20 AM

"Lawn Care Pro" <inthesuburbs[at]hotmail.com> wrote:

- quote -

> Can I deduct educational expenses for my non-dependent child?
> I'm paying education expenses for my son, age 20, a
> full-time student. He is not my dependent; I'm divorced, and
> he's his mother's dependent. But I'm paying about $13,000 a
> year in tuition and living expenses. I paid this amount, at
> least, in 2001, 2002 and now again in 2003. It's not paid in
> a lump sum, but through the year. I'm not obligated to pay
> it by any child support agreement; I just pay it to help him
> out.
> Can this lower my tax in any way? As a gift? As a deduction
> for education expenses?

You are a good man!

You may want to watch out for Gift Tax 10K limit/yr, but I
am not an expert in taxes. You will get more replies to your
post, just wait a bit.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

#1 08-08-2003, 02:20 AM

- quote -

> Can I deduct educational expenses for my non-dependent child?
> I'm paying education expenses for my son, age 20, a
> full-time student. He is not my dependent; I'm divorced, and
> he's his mother's dependent. But I'm paying about $13,000 a
> year in tuition and living expenses. I paid this amount, at
> least, in 2001, 2002 and now again in 2003. It's not paid in
> a lump sum, but through the year. I'm not obligated to pay
> it by any child support agreement; I just pay it to help him
> out.
> Can this lower my tax in any way? As a gift? As a deduction
> for education expenses?

If you can not claim the dependency exemption for your son,
then there is no tax benefit available to you (no credit, no
deduction) for the education expenses you incur on his
behalf. The educational expenses you pay for your son are
considered a gift to him. If he has income and files a tax
return, he may be able to use the qualified educational
expenses paid on his behalf by you to either claim the
applicable credit (Hope or Lifetime) or take the tuition
deduction. See IRS Pub 970 for details on all higher
education tax benefits.

Alan
http://taxtopics.net

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

08-08-2003, 01:42 AM

"Lawn Care Pro" <inthesuburbs[at]hotmail.com> wrote:

- quote -

> Can I deduct educational expenses for my non-dependent child?

No.

- quote -

> I'm paying education expenses for my son, age 20, a
> full-time student. He is not my dependent; I'm divorced, and
> he's his mother's dependent. But I'm paying about $13,000 a
> year in tuition and living expenses. I paid this amount, at
> least, in 2001, 2002 and now again in 2003. It's not paid in
> a lump sum, but through the year. I'm not obligated to pay
> it by any child support agreement; I just pay it to help him
> out.
> Can this lower my tax in any way? As a gift? As a deduction
> for education expenses?

The Higher Educational deduction and related credits only
apply to the taxpayer and their dependents. And there is no
deduction ever for gifts.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

#-1 08-07-2003, 06:39 AM

Can I deduct educational expenses for my non-dependent child?

I'm paying education expenses for my son, age 20, a
full-time student. He is not my dependent; I'm divorced, and
he's his mother's dependent. But I'm paying about $13,000 a
year in tuition and living expenses. I paid this amount, at
least, in 2001, 2002 and now again in 2003. It's not paid in
a lump sum, but through the year. I'm not obligated to pay
it by any child support agreement; I just pay it to help him
out.

Can this lower my tax in any way? As a gift? As a deduction
for education expenses?

Thanks.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

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