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The largest amount a student can claim as a college tax deduction in 2009 is $4,000. According to the IRS, this college tuition tax credit reduces a student's taxable income by $4,000 and is subject to certain stipulations. You can't claim the tuition deduction if you are married and filing separately or if someone else can claim you as a dependent.
Source:
The IRS: Top Ten facts about the Tuition and Fees Deduction
Resource:
The IRS
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