I am attending a trade school to learn a new career. I am still paying off my bachelor's degree and I claim the interest from my student loans each tax year. Can I also deduct the cost of trade school tuition? I expect to complete the program in 7 months, and the school is accredited.
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Yes. You may claim an education credit, for current tuition, even though you are also claiming the student loan interest deduction.
The tuition credit (or deduction) is a separate tax break from the student loan interest deduction and both are allowed.
What you are not allowed to do is claim both a tuition credit and a tuition deduction. But you are allowed to claim student loan interest in addition to ONE of those
.
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