What tax relief options are available for students?
March 27, 2023 | 40,00 EUR | answered by Christine Witzelmann
Dear tax advisor,
I am Sebastian Fritsche, a student in the third semester, and I am facing the challenge of filing my tax return for last year. Since I have no experience with this topic so far, I am unsure about the specific tax relief options available for students and how I can best utilize them.
Regarding my current situation: Last year, I worked in a student job alongside my studies and also received BAföG. I have heard from various sources that there are certain tax benefits available for students that I could potentially claim. However, I am unsure about which expenses I can deduct exactly and how to correctly report them in my tax return.
The current situation is that I have no prior experience with taxes and therefore feel uncertain about the tax relief options available to me as a student. I am worried that I may be missing out on money that I am entitled to because I do not have all the relevant information and do not know how to include it in my tax return.
Therefore, my question to you is: What are the specific tax relief options available for students like me who have worked alongside their studies and received BAföG? Which expenses can I deduct and how can I report them in my tax return to maximize the tax benefits? Are there specific forms or documents that I absolutely need for filing taxes as a student?
I look forward to your assistance and thank you in advance for your help.
Sincerely,
Sebastian Fritsche
Dear Mr. Fritsche,
Thank you for your inquiry regarding tax benefits for students. It is understandable that you may feel unsure when it comes to filing taxes, especially if it is your first time. I would like to help you by providing an overview of the tax relief options available for students and giving you some tips on how to make the most of them.
First and foremost, it is important to know that students are also subject to taxation if they have income, whether it is from a part-time job or from BAföG benefits. However, there are some tax benefits specifically available for students. The most important ones include:
1. Work-related expenses: As a student, you can deduct certain expenses related to your studies as work-related expenses. This may include transportation costs to the university, work materials, academic literature, tuition fees, or costs for conferences or further education.
2. Special expenses: Certain special expenses, such as contributions to health and nursing insurance, may also be deductible under certain conditions.
3. Loss carryforward: If your expenses exceed your income, you can claim a loss carryforward, which can be offset against your income in subsequent years.
To include these expenses in your tax return, you will typically need supporting documents such as receipts, invoices, or certificates. It is important to collect and keep all relevant receipts organized so that you can present them when needed.
For your tax return as a student, you can use either the Annex N (for income from employment) or the Annex K (for BAföG recipients). In these annexes, you can declare your income and expenses and thus claim the tax benefits available.
If you are uncertain or if your tax situation is more complex, it is advisable to consult a tax advisor or tax assistance association to ensure that you make the most of the tax relief options available.
I hope that this information is helpful to you and that you can successfully complete your tax return as a student. If you have any further questions, please feel free to contact me.
Best regards,
Christine Witzelmann
Tax Advisor
