Taxpayers who pay for college in 2016 may receive tax savings on their federal tax return. These credits are available for study abroad education, too. Education credits are subject to income limitations and may be reduced or eliminated based on the taxpayer’s income. Taxpayers may only use qualified expenses to figure their education credit. Qualified expenses include the costs paid for tuition, fees and other related expenses for an eligible student to enroll at, or attend, an eligible educational institution. Items such as computers, books, and other school supplies can also be claimed as qualified education expenses. Items such as
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