- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
If you are a W-2 employee, you can't deduct the expense as work-related training on your federal return. Turbotax may allow you to list it anyway in case it is a state deduction for you. In that case, you can deduct as a work expenses, classes you take to improve or maintain your job skills for your current job but you can't deduct classes to meet the requirements of a new job.
If you are self-employed filing schedule C, you can deduct as a work expenses, classes you take to improve or maintain your job skills for your current job but you can't deduct classes to meet the requirements of a new job.
You can't claim any tuition or college-related tax cuts at the federal level. Both the lifetime learning credit and the American opportunity credit require that the school issue you a 1098 (this is a new requirement enacted in law in 2015). If your school doesn't issue a 1098--for whatever reason--you can't claim the credits. Your state may have a deduction or credit for higher education expenses. In that case, you would have to check with your state to see if your school qualifies and what the requirements are for the deduction or credit. If you find a college deduction in your state interview, you will probably see a "?" icon, click on it to read the rules for your state.