Is their any tax deduction/credit for post secondary education?

[BTDretire]

I previously received a credit for my kids college tuition.
Now my daughter is going to Dental school and I can no longer
get any credit/deduction for her, she is 26 yrs old.

 Is there any credit/deduction if she pays the tuition fees?

My wife and I could at least gift her and her husband up to $56k
which will almost pay the tuition.
 That way, if their is a deduction/credit for tuition, they could use it.

[MDM]

See compare education credits and tuition and fees deduction for a summary.

[BTDretire]

Ok, it looks like she could get the LLC and/or the Tuition and Fees Deduction.
It says  "No Double Benefit Allowed" but it's not clear to me that if you use up the
LLC and still have expenses that have not been used, you can't use the Tuition and Fees Deduction for those.
Can you clarify?
 My daughter is going to Dental school with a $65k yearly tuition so there will be plenty of expenses.
My idea, is to gift her and her husband money and then, they can pay the tuition with their money and get the tax breaks.
Does that sound proper? 

[MDM]

Ok, it looks like she could get the LLC and/or the Tuition and Fees Deduction.
It says  "No Double Benefit Allowed" but it's not clear to me that if you use up the
LLC and still have expenses that have not been used, you can't use the Tuition and Fees Deduction for those.
Can you clarify?

"You cannot take both an education credit from Form 8863 and the tuition and fees deduction from this form for the same student for the same tax year" on https://www.irs.gov/pub/irs-pdf/f8917.pdf, unfortunately, seems clear.

My daughter is going to Dental school with a $65k yearly tuition so there will be plenty of expenses.
My idea, is to gift her and her husband money and then, they can pay the tuition with their money and get the tax breaks.
Does that sound proper?

Yes.  She is clearly not your dependent, and gift recipients may do what they please with the gift.

[BTDretire]

My kids came to visit this weekend, at the same time my daughter emailed two dental school bills.
I think she wanted to be present when I got the bill. In case I needed medical help? :-)
 The two bills total $38,400. $28,400 tuition and $9,400 for dental tools.
Is there a proper way to gift the money to her and her husband.
Can I just wire transfer money into their joint account?
Do I need to specifically identify the separate $14,000 allotments?
 Any specific records I need to keep?
                                   Thanks

[FIPurpose]

Well gifting isn't something that you claim on your taxes. And there is a cap to the tuition deduction. So they still need to have taxable income to claim the deduction which maxes out at $4000. So not nothing, but they're also not going to be able to deduct some $40k either.

There's also a lifetime limit to how much you can gift someone. So as long as they don't get audited and it's not egregious, you should be fine.

[CareCPA]

My kids came to visit this weekend, at the same time my daughter emailed two dental school bills.
I think she wanted to be present when I got the bill. In case I needed medical help? :-)
 The two bills total $38,400. $28,400 tuition and $9,400 for dental tools.
Is there a proper way to gift the money to her and her husband.
Can I just wire transfer money into their joint account?
Do I need to specifically identify the separate $14,000 allotments?
 Any specific records I need to keep?
                                   Thanks

Nope, doesn't really matter how you send it or how you break it up.
Keep in mind, the $14k per person limit is for the year. So if you and your wife gift your daughter and her husband $56k, you would technically need to a file a gift tax return if you got them a Christmas/Holiday gift.
There's obviously no mechanism for tracking that, but just in case you transferred money again later in the year, you would want to be careful how you did it just in case it ever came up.

[BTDretire]

My kids came to visit this weekend, at the same time my daughter emailed two dental school bills.
I think she wanted to be present when I got the bill. In case I needed medical help? :-)
 The two bills total $38,400. $28,400 tuition and $9,400 for dental tools.
Is there a proper way to gift the money to her and her husband.
Can I just wire transfer money into their joint account?
Do I need to specifically identify the separate $14,000 allotments?
 Any specific records I need to keep?
                                   Thanks

Nope, doesn't really matter how you send it or how you break it up.
Keep in mind, the $14k per person limit is for the year. So if you and your wife gift your daughter and her husband $56k, you would technically need to a file a gift tax return if you got them a Christmas/Holiday gift.
There's obviously no mechanism for tracking that, but just in case you transferred money again later in the year, you would want to be careful how you did it just in case it ever came up.

Then, is it still a gift to them, if I pay any additional tuition over the $56k directly to the school?

 Also, I'm gifting so they can use the tax deduction, can they carry forward any of the tuition expenses?
I don't think their income is high enough to use all the credit.

[CareCPA]

My kids came to visit this weekend, at the same time my daughter emailed two dental school bills.
I think she wanted to be present when I got the bill. In case I needed medical help? :-)
 The two bills total $38,400. $28,400 tuition and $9,400 for dental tools.
Is there a proper way to gift the money to her and her husband.
Can I just wire transfer money into their joint account?
Do I need to specifically identify the separate $14,000 allotments?
 Any specific records I need to keep?
                                   Thanks

Nope, doesn't really matter how you send it or how you break it up.
Keep in mind, the $14k per person limit is for the year. So if you and your wife gift your daughter and her husband $56k, you would technically need to a file a gift tax return if you got them a Christmas/Holiday gift.
There's obviously no mechanism for tracking that, but just in case you transferred money again later in the year, you would want to be careful how you did it just in case it ever came up.

Then, is it still a gift to them, if I pay any additional tuition over the $56k directly to the school?

 Also, I'm gifting so they can use the tax deduction, can they carry forward any of the tuition expenses?
I don't think their income is high enough to use all the credit.

If you pay directly to the school, my understanding is that it is not considered a gift to the student.
I'm also not aware of any capability to carry tuition expenses forward.

[BTDretire]

Thank you for the input.