Posted on Aug 2, 2011
Don’t overlook a deduction on your 2011 tax return for qualified higher education expenses this year. Single filers may deduct up to $4,000 if adjusted gross income (AGI) is $65,000 or less (AGI of $130,000 or less for joint filers). The deduction limit drops to $2,000 for AGI up to $80,000 for single filers and $160,000 for joint filers. No deduction is allowed over these income thresholds.