Exclusions for Educational Expenses

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
Exclusions for Educational Expenses

Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to DrFriday.com. This is a one-minute moment.

Dr. Friday 0:12
Kids are going to go to college, guys, at least we hope so. And what we want to be able to do is find out where are the exclusions for educational expenses. So you basically have a couple of things. When you get a loan, the maximum interest rate that you can claim is $2500. For student loan interest that is assuming that your head of household or single is less than 85,000. And if you’re married, you’re making less than 170,000. You also have employer tuition exclusions which can be up to 5250 in the year 2021. You need to exclude any scholarships or anything that may come along. If you need help, check me out at drfriday.com.

Announcer 0:51
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