I'm working full-time and doing a full-time executive graduate degree on the side. I have Form 1098-T which shows my tuition but on a federal level I can't use it for an education tax break because my income exceeds the limit.
However, in my NY STATE return itemized deductions (Form IT-196) I see line 22 "job related education expenses" which includes tuition according to the instructions. The education improves my job skills in my opinion, which is another criterion. Given I am itemizing either way can I claim this?
Thanks!
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It sounds like a yes but let's double check. The rules are simple as seen for Job related education expenses in itemized deductions:
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:
You cannot deduct expenses you have for education, even though one or both of the preceding tests are met, if the education is:
If your education qualifies, you can deduct expenses for tuition, books, supplies, laboratory fees, similar items, and certain transportation costs.
If the education qualifies you for a new trade or business, you cannot deduct the educational expenses even if you do not intend to enter that trade or business.
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