My mother-in-law, who works as a financial aid counselor for a non-profit, claims that private elementary school tuition is eligible for the Hope credit.
My reading of Publication 970 would seem to suggest to me that this is not the case, i.e., that the Hope and Lifetime Learning credits are available only for post-secondary education.
Who's right?
On the other hand, it appears that I could open a Coverdell ESA and use the funds from it to pay for elementary school tuition, but seeing as how I don't exactly have any extra cash lying around and would thus have to borrow the money and pay interest on it, that would seem to defeat the purpose and probably not be worth the effort. With suitably creative investment strategies, I imagine that I could make a higher rate of return in the ESA than I'd be paying in loan interest, but it'd be a lot of work and a lot of risk.
Thanks.