My son will be starting college in the fall. I’m wondering about how college costs will factor into my taxes for the next few years. I have read about the American Opportunity Credit, but I think my income will be too high to get anything there. Some random points and questions:
Are any of the college costs tax deductible?
We don’t have a 529, and I don’t know much about them. Are there any options for using pre-tax dollars to cover college costs?
If I pay the interest on his unsubsidized student loans while he’s in school, can I deduct those payments?