Optimizing the Timing of Tuition Payments for the Education Credit

To be eligible for a 2014 tax credit for post-secondary tuition payment, both the American Opportunity Credit and the Lifetime Learning Credit require that the tuition be paid during the 2014 calendar year. In addition, tuition payments made in 2014 that are attributable to academic periods beginning in the first three months of 2015 are eligible for the 2014 education tax credit. For more information on education credits, please see our article by clicking here.

For questions about these topics or other matters, please contact Jean McDevitt, tax principal and private client services lead, at 1.800.244.7444.