What EDUCATION EXPENSE means: For tax purposes, an education expense is an expense that is eligible for a tax deduction or credit. Education benefits include the Hope and lifetime learning credits and the deduction for business-related education expenses.
- Definition Exemption:
- Dictionary taxpayer, spouse, and each dependent that is subtracted from income that would otherwise be taxed. The allowable amount must be reduced if adjusted gross income exceeds a specified amount. See our education expense definition.
- Definition Earned Income:
- Dictionary income for services rendered as distinguished from income generated by property or other sources. Earned income includes amounts received as wages, tips, bonuses, other employee compensation, and education expense explain.
- Definition Excluded Gain:
- Dictionary gain realized on a sale that will never be taxed. The most common situtation in which this occurs is for qualifying sales of principal residences. Other gains that may be excluded in whole or in part education expense what is.
- Definition Earned Income Credit:
- Dictionary credit for qualified taxpayers based on earned income, adjusted gross income, and the number of qualifying children. See our Earned Income Tax Credit rate table for the current income limits education expense meaning.
How works Education Expense meaning in Tax definitions E .