Question
How do I calculate NJ Tuition Deduction amount (New Jersey Institution of Higher Education Tuition)? Also, do I subtract scholarship amount?
This is what I can find from NJ website: If you, your spouse, or your dependent enroll in and attend a New Jersey institution of higher education, you can deduct up to $10,000 for tuition costs.
Does this mean -- I can deduct the amount I used for tuition costs? (e.g., If I paid $5000 for tuition costs, I get an deduction of $5000?) Also, do I subtract scholarship amount for this? (e.g., enter $3000 if I received $2000 scholarship, in the case described earlier?) Sorry for such a stupid question, if this is too obvious and thank you in advance!
Does this mean -- I can deduct the amount I used for tuition costs? (e.g., If I paid $5000 for tuition costs, I get an deduction of $5000?) Also, do I subtract scholarship amount for this? (e.g., enter $3000 if I received $2000 scholarship, in the case described earlier?) Sorry for such a stupid question, if this is too obvious and thank you in advance!
