Up to $4,000 in qualified education expenses can be deducted on your tax return if your modified adjusted gross income is not more than $65,000 ($130,000 if married). If your modified adjusted gross income is higher than $65,000 but less than $80,000 ($160,000 if married), you can deduct up to $2,000 of qualified education expenses. Just enter your qualified education expenses and we'll calculate if you are eligible. If you choose to deduct the education expenses, you can not take the American Opportunity Credit or Lifetime Learning Credit on the same student's education expenses.