Education-Related Tax Changes | |
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Education Savings Bond Exclusion Modified adjusted gross income phaseout amounts have increased for 2007 and 2008. Hope and Lifetime Learning Credits The amount of the education credits and the income phaseout limits have increased for 2007 and 2008. New Form 8917, Tuition and Fees Deduction To claim the tuition and fees deduction, you must complete Form 8917, Tuition and Fees Deduction, and file it with Form 1040 or Form 1040A. Student Loan Interest Deduction For 2007 and 2008, the modified adjusted gross income phaseout amounts have increased. |
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