Today’s tax saving topic deals with personal tax deductions for taxpayers with children in college or prep school who pay tuition. For taxpayers with children in college or prep schools tuition can be a large family expense. Now there is a write-off available for a portion of the tuition that is attributable to health care as a medical expense. You must have a breakdown of the tuition costs that’s attributable to health care to take this deduction. For more information see IRS Revenue Ruling 54-457.
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