8 Tax Breaks That Are Set to Expire on Dec. 31

This article originally appeared on MarketWatch.
As year-end rapidly approaches, a bevy of federal tax breaks is set to expire on Dec. 31. Some are related to Covid-19 relief legislation, which Congress is still hashing out. This column addresses so-called tax extenders that benefit individuals. These are breaks that Congress has repeatedly allowed to expire before restoring them—often retroactively. Here’s the list.
College tuition write-off
This deduction can be up to $4,000 annually at lower income levels or up to $2,000 at middle income levels. It expired at the end of 2017. Then Congress retroactively resurrected the deduction to cover qualified college expenses incurred in 2018-20. If your income allows you to be eligible for the deduction, you can claim it whether you itemize or not.

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