Question

Tuition Deduction

Forum|Forum|6 years ago
February 18, 2020
1 reply
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Ive received a Tuition Deduction of $1400, but it doesn't add up to my refund … is there a reason for that

Not A Product Question

I assume you are referring to the Tuition and Fees Deduction?

There is a difference between a Credit and a Deduction.

Tax deductions, reduce the amount of your income that is subject to tax, Tax credits reduce the amount of tax you owe, giving you a dollar-for-dollar reduction of your tax liability.

So your Tuition Deduction lowered your taxable income which reduced the tax you owe, but it is not a dollar for dollar reduction in tax so it is not a dollar for dollar increase in your refund.

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