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College Tuition Deduction

     College Tuition Deduction is new for the years 2002 through 2005.  For 2002 and 2003, married taxpayers with adjusted gross income of $130,000 or less and single taxpayers with adjusted gross income of $65,000 or less may qualify for an above-the-line deduction for college tuition up to $3,000 per year.  For 2004 and 2005, the income limits and deduction amount increase.  You may not claim this deduction if you qualify for the HOPE or Lifetime Learning Credits.

(February, 2003 Newsletter)


James E. Newland, CPA

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