How can you claim a full-time college student and what expenses can you deduct?

ANSWER

The BIDaWIZ Team's Answer:

You can still claim the child as your dependent, if you financially

support the child. See IRC 221 & IRC 222. You may deduct the

qualifying tuition, and related expenses. In lieu thereof, there are three

availabe education credits, that may apply. The three credits are claimed

on Form 8863 [see IRC 25A]. The american opportunity credit maximum

is $2,500. The hope scholarship credit maxium is $1,800. The lifetime learning credit

maximum is 20% of your qualified tuition, and expenses. The maximum is $2,000.