I have a past due tuition bill that was sent to a
Date: Wed, 03/16/2011 - 10:57
I have a past due tuition bill that was sent to a collection agency. I have been paying it every week and by the end of the year it will be paid off. Will there be a hold on my tax return? Also will I get credit for paying the entire bill (tax credit for paying the school)?
If you are paying the tuition, your federal return shouldn't be
If you are paying the tuition, your federal return shouldn't be effected. If it was a state school, however, your state income tax may be withheld.
You should also be able to claim the tuition on your taxes for the year it was paid. You can only claim the actual tuition amount, however. Late fees, interest and collection fees are not able to be claimed.
