Submitted By: Doug, & Martin
Answered: February 18, 2014 8:30 am

Is the above-the-line tuition deduction available in 2014? Also, Is the enhanced deduction for conservation easements available in 2014?

These two tax breaks, along with more than 4 dozen more, expired at the end of 2013. To date, they have not been extended, but later this year or even in 2015 Congress could reinstate them retroactively to the start of 2014. Look for news about “extender legislation” in the media and follow JKLasser.com for updates.

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Tax Glossary

Carryback

A tax technique for receiving a refund of back taxes by applying a deduction or credit from a current tax year to a prior tax year. For example, a business net operating loss may be carried back for two years.

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