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Education
You can deduct it as a business expense on Schedule C if you are self-employed. Only self-employed truck drivers can claim tax deductions on their federal tax return for job-related expenses, while those who receive a W-2 from a trucking company typically cannot.
You may be able to take the Lifetime Learning Credit if you are not self-employed. It would be worth 20% of your qualified expenses.
Generally, if you paid for qualified education expenses for an academic period beginning in the current tax year or in the first three months of the next year, then you're allowed to take the Lifetime Learning Credit.
- Qualified expenses are tuition and certain related expenses required for enrollment at an eligible institution.
- The course must be either part of a post-secondary degree program or be taken by the student to acquire or improve job skills.
Student activity fees and expenses for course-related books, supplies, and equipment are included in qualified education expenses only if the fees and expenses are paid to the institution as a condition of enrollment or attendance.
To enter your qualified expenses for this credit, search for education and use the Jump to education link. You don't have to have a 1098-T to take the credit.
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