Can I claim vocational training at an eligible trade school, even though I am still paying off my first college degree?

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.

posted

Connect with an expert

2 Replies

Can I claim vocational training at an eligible trade school, even though I am still paying off my first college degree?

https://www.irs.gov/credits-deductions/individuals/lifetime-learning-credit

Can I claim vocational training at an eligible trade school, even though I am still paying off my first college degree?

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