Tuition Tax Relief Act

[AI summary unavailable — showing source text] Tuition Tax Relief Act - Amends the Internal Revenue Code to allow individual taxpayers a $250 income tax credit (increased to $500 over a four year period) for amounts paid as educational expenses for each dependent, their spouses, and for themselves. Allows an alternative $500 income tax deduction (increased over four years to $1,000) for the same expenses.…