I've been going to school online full time, working towards a bachelor's degree in Early Childhood Education since 2011. We moved to a new community with the intent of opening a home child care in July 2013. I continued my classes during this time while also preparing the house, networking, and marketing for the child care. I opened in September.

I used Pell Grants and loans to finance my education. Will I able to deduct the loans for my classes on taxes? If so, am I able to deduct all of my classes from 2013 or just a portion of of it? I'm totally lost when it comes to this stuff!

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You could only deduct the cost of college and loan interest, books, etc. if you already have a post-secondary degree. In other words, if this is your first post high school degree, you can't deduct anything.

Here's an article that explains this in detail:http://www.tomcopelandblog.com/2011/...eductible.html

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Bummer. Good to know. Thanks for responding! :-)

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