Submitted By: someone
Answered: November 25, 2019 10:12 pm

Our daughter, who is age 19, works part time and goes to college. She lives with us. Can we take an education credit for the tuition we pay on her behalf?

It appears that your daughter is your dependent, assuming she’s listed as such on your return. But whether you qualify to take the American opportunity credit or the lifetime learning credit depends on how long she’s been in college and the amount of your modified adjusted gross income; check the instructions for Form 8863.

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Tax Glossary

Capital expenses

Costs that are not currently deductible and that are added to the basis of property. A capital expense generally increases the value of property. When added to depreciable property, the cost is deductible over the life of the asset.

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