As of last year, a student could deduct up to $4000 from their total income on line 34 of the Adjusted Gross Income section of the 1040, but I don't see that possibility this year. Line 34 is something different and I don't spot the "tuition and fees deduction" hidden anywhere else. What makes it confusing is that I still received a "Form 1098-T" from my university that lists the amount I spent on tuition this past year. Did they remove that deduction possibility, or am I just being unobservant? Thanks.
The extension of that deduction was passed by congress in December, after the forms were already printed, so there's no preprinted space for it. To claim it, enter the amount on line 35, and write "T" to the left of the amount.
Source(s):
http://www.irs.gov/newsroom/article/0,,i...
It's here: http://www.irs.gov/taxtopics/tc605.html...
Yep, Judy knows her stuff.
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