Qualifying taxpayers can deduct a portion of college expenses if their adjusted gross income is under certain limits. This break is available whether or not you itemize deductions, but is not available to students who are claimed as dependents on their parents’ return. It is available to their parents, though, if they pay the tuition. You cannot claim the deduction in the same year you claim an American Opportunity or Lifetime Learning credit for the same student. But because the income phase-out ranges for this deduction are higher than for the Lifetime Learning credit, some taxpayers whose income is too high to claim the Lifetime Learning credit will benefit from this write-off.