1. You can never directly write off tuition expenses for any type of school. There are some education credits
that are available, but only for college tuition and fees. This would include community colleges, universities, trade or vocational schools, and other accredited education programs following high school, including private schools. There are various tax breaks for education expenses, such as the tuition and fees deduction
and the Lifetime Learning and Hope tax credits
. But these tax breaks are not available for elementary and high school tuition.
2. There is never a point where someone can make too much money to have a tax exemption for a child matter. When someone claims a child as a dependent
, in most cases they are allowed a full deduction of $3,500 for claiming that child as a dependent. (That was the allowance
in 2008). There is a point where that exemption amount can be lowered if the taxpayer's income
is too high, but the credit is never eliminated entirely.
You lose part of the benefit
of your exemptions if your adjusted gross income
is above a certain amount. For 2008, the phaseout begins at $119,975 for married persons filing
separately; $159,950 for single individuals
; $199,950 for heads of household; and $239,950 for married persons filing jointly or qualifying widow(ers). However, in 2008, you can lose no more than 33% of the amount of your exemptions. In other words, each exemption cannot be reduced to less than $2,333. So no matter how much income someone earns, they would still be allowed a minimum deduction of $2,333 for each child they claimed.
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