Yes, some of the costs of making a movie
for your graduate film-making course may be deducible as qualified education expenses, if the
movie is a course requirement.
While there are two education credits
generally available, as a graduate student, only the Lifetime
Learning Credit would apply.
Please note that to claim books,
equipment, and materials as qualified expenses under the Lifetime Learning
Credit, you will need to have purchased
them directly from the school.
To enter these education expenses in
TurboTax:
- Type Education
Expenses in the Search Topics box and click enter.
- Click Education
Expenses / Credits and
begin the interview.
- Continue
through the screens answering questions about the student, the school, and
the education expenses. You will encounter a screen where you may enter Books
and Materials. The equipment and materials that you purchased may be
entered there.
