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Executive Education

I am self employed and taking several Executive Education courses. Are those tax deductible?

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3 Replies

Executive Education

Thank you!

Hal_Al
Level 15

Executive Education

 Regular W-2 employees are no longer (since 2018) allowed to deduct job expenses, including education. If you're self employed, you can deduct the cost, as a business expense, on schedule C.

If the courses were taken at a recognized college or vocational school (educational institutions eligible to participate in the student aid programs administered by the Department of Education),  you can, instead,  take either the Lifetime Learning Credit (but not the American Opportunity credits) 

You can also deduct the mileage if you go directly from your work site to the school. You cannot deduct the mileage from school back to home, unless the schooling is considered temporary (expected to last less than 1 year and actually does last less than 1 year).

 

The general rule is: Educational expenses to improve your current job skills are deductible. But learning a new job is not. From JK Lasser’s Your Income Tax : "For a deduction, the courses must be related to your existing job responsibilities and not lead to qualification for a new business.

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