IRS Publication 970 explains education-related tax benefits, including credits like American Opportunity and Lifetime Learning Credits, for students pursuing higher education.
The American Opportunity Tax Credit offers up to $2500/year for the first four years of education, while the Lifetime Learning Credit covers up to $2000/year for various education levels.
Tuition and fees deduction permits up to $4000 tax deduction for higher education expenses, available for both undergraduate and graduate levels.
IRS Publication 970 outlines valuable tax benefits to ease the financial burden of post-secondary education, catering to various levels of learners and education expenses.