Full time 3 month coding bootcamp tax deductible tuition

ryan_jellesed — Tue, 04 Jun 2019 22:45:16 GMT

I attended a full time 3 month coding bootcamp last year and was wondering if the tuition is tax deductible?

The new republican tax plan states that secondary schools...

arianmotavasseli — Tue, 04 Jun 2019 22:45:18 GMT

The new republican tax plan states that secondary schools, among other, can receive up to $10,000 in tax credit. Does this new amendment impact the previous answer? If so, how can we take advantage of the tax credit?

It is not entirely clear from your use of the word "codin...

MichaelMc — Tue, 04 Jun 2019 22:45:22 GMT

It is not entirely clear from your use of the word "coding" whether you are referring to training related to the computer programming industry, the medical billing industry or some other field. In either case, the key determinant of tax deductibility is going to be whether you are already working in that particular field. If you are improving your skill set in a field where you are already working, those expenses are most likely going to be deductible. If, however, you are trying to qualify for entry into a new trade or business, your expenses will not be tax deductible.

The position of the IRS on this matter appears below, taken from IRS Pub. 529 Miscellaneous Deductions.

"Work-Related Education

You can deduct expenses you have for education, even if the education may lead to a degree, if the education meets at least one of the following two tests.

It maintains or improves skills required in your present work.

It is required by your employer or the law to keep your salary, status, or job, and the requirement serves a business purpose of your employer.

You can't deduct expenses you have for education, even though one or both of the preceding tests are met, if the education:

Is needed to meet the minimum educational requirements to qualify you in your trade or business, or

Is part of a program of study that will lead to qualifying you in a new trade or business.

If your education qualifies, you can deduct expenses for tuition, books, supplies, laboratory fees, and similar items, and certain transportation costs.

If the education qualifies you for a new trade or business, you can't deduct the educational expenses even if you don’t intend to enter that trade or business." [Emphasis added]

The new republican tax plan states that secondary schools...

arianmotavasseli — Tue, 04 Jun 2019 22:45:23 GMT

topic Full time 3 month coding bootcamp tax deductible tuition in Education

Full time 3 month coding bootcamp tax deductible tuition

The new republican tax plan states that secondary schools...

It is not entirely clear from your use of the word "codin...

The new republican tax plan states that secondary schools...