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I am 59 years old and considering pursuing a Masters via on-line courses. I already have a Bachelors. Can I deduct the cost of the tuition? I will be paying it myself.

 
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MinhT1
Expert Alumni

I am 59 years old and considering pursuing a Masters via on-line courses. I already have a Bachelors. Can I deduct the cost of the tuition? I will be paying it myself.

If you are paying this tuition in 2020, on your 2020 tax return, you can claim the Lifetime learning credit.

 

Please read this TurboTax article for more information on the Lifetime Learning credit.

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View solution in original post

I am 59 years old and considering pursuing a Masters via on-line courses. I already have a Bachelors. Can I deduct the cost of the tuition? I will be paying it myself.

You can claim the Lifetime Learning Credit if you meet the qualifications. 

 

https://www.irs.gov/credits-deductions/individuals/llc

View solution in original post

2 Replies
MinhT1
Expert Alumni

I am 59 years old and considering pursuing a Masters via on-line courses. I already have a Bachelors. Can I deduct the cost of the tuition? I will be paying it myself.

If you are paying this tuition in 2020, on your 2020 tax return, you can claim the Lifetime learning credit.

 

Please read this TurboTax article for more information on the Lifetime Learning credit.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I am 59 years old and considering pursuing a Masters via on-line courses. I already have a Bachelors. Can I deduct the cost of the tuition? I will be paying it myself.

You can claim the Lifetime Learning Credit if you meet the qualifications. 

 

https://www.irs.gov/credits-deductions/individuals/llc

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