Education-Related Tax Changes

Education Savings Bond Exclusion
Modified adjusted gross income phase-out amounts have increased for 2008.

Hope and Lifetime Learning Credits
The amount of the education credits and the income phase-out limits have increased for 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 2008, the modified adjusted gross income phase-out amounts have increased.

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