2. Can education expenses be deducted when I am sending my four year old to private kindergarden?
Thanks!
1. It's a credit, not a deduction. The residential energy credits will still be available for purchases in 2007, not after that unless it is extended. The credit is 10% or the cost, with a maximum credit for windows of $200. This is federal - I don't know about Oregon state taxes.
2. No, you can't deduct kindergarten expenses.
Yes, you will have a deduction for the home improvement or at least there was one in 2006. I have not seen, nor do I believe they have published any thing about that for 2007.
No, you do not get education credits fro sending your four year old to a private kindergarden. While I am sure that the standards may be greater at the private school the IRS wants to help with college.
1. There was a credit for home improvements that were related to saving energy (Energy efficient windows, furnace, water heater or Coated Metal Roof). I'm not sure if that will continue for 2007.
2. Education expenses for lower than college level are not allowed, however, the cost of kindergarten that can be considered daycare can be used for the Child Care Credit if both you and your spouse (if married) work, are looking for work, going to school to become employable or are disabled.
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