Taxes and tuition....

[MedicJ]

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Trying to figure how this will all pan out.
Won't be working but will be paying about 25,000 a year(out-of pocket...already have the money) for next 2 years of pre-med.
I file taxes with my husband...so there will be some income. Will what I pay for school help any?

 

[TMP-SMX]

Publication 970: Tax benefits for education.

Read up. Yes you can reduce the tax you pay a bit but it's not a whole lot. Depending on your situation you should definitely be able to get the Lifetime Learning Credit to reduce your tax paid by $2000.