What Form 8655 Deductions 2024

Divide this text into sentences and correct mistakes: - What is up, my YouTube family? Welcome back to Money and Life TV. My name is Mike, this is my sidekick Chipper. Today in this video, we're gonna be talking about what school expenses are tax deductible and which ones are not. In other words, what school expenses count and which ones do not. If you're new to our channel, I just want to take a moment and say welcome. I highly consider subscribing because every single week on this channel, I produce new videos to help you with your personal finances, your investments, taxes, and your everyday life. If you find this video helpful, don't forget to hit that like button. Now let's go ahead and get started. The expenses we're gonna be talking about in today's video are actually expenses to be deducted through either the American Opportunity Tax Credit or the Lifetime Learning credit. I encourage you to watch this whole video from start to finish because at the end of it, I'm gonna go over some very specific rules that you need to meet or qualify for. Otherwise, none of the expenses we're gonna be talking about in this video are gonna be deductible. Just so you guys know, all the information I'm presenting in this video is coming from IRS Publication 970. It is like the Bible of Education deductions. It's nearly 100 pages of information on education deductions that is found on the IRS website, but I'm going to link that up in the description section below this video. So make sure to check it out, and it has all the information you'll probably ever need on education deductions. - So let's talk about what fees are deductible. Of course, your college tuition fees are going to...