Fed (US) & State (NY - other) Tax breaks for (Distance) Education?

Discussion in 'General Distance Learning Discussions' started by RKanarek, Mar 5, 2002.

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  1. RKanarek

    RKanarek Member

    Greetings.

    It's tax time again! As an adult (distance) learner, are we entitled to any sort of tax breaks? Yes, I should probably discuss this with my tax preparer, but its been a long time since he's been to college, and he got his degree the pedestrian way! <g>


    Cordially,
    Richard Kanarek

    P.S. While I live -- if you can call it that -- in NY, feel free to post information relevant to other states too; you never know who might be reading!
     
  2. Bruce

    Bruce Moderator

    I was always able to claim deductions for tuition and books, I can't imagine why a DL program would be any different.


    Bruce
     
  3. RKanarek

    RKanarek Member

    Greetings.

    Thanks for all the replies & information!

    Originally posted by Bruce
    "I was always able to claim deductions for tuition and books, I can't imagine why a DL program would be any different."

    My understanding, supported by long distant conversations with a tax professional (CPA?), was that only education/training closely related to ones current job was in any way tax deductable. Thanks for correcting me!


    Cordially,
    Richard Kanarek
     
  4. Nosborne

    Nosborne New Member

    There are IRS publications available on-line that describe the various categories of tax deducations and credits. www.irs.gov In general the education needs to be taken to improve your skills at your present occupation and must not qualify you for a new job or profession to be deductable. For example, a registered nurse working toward a master's degree in Nursing will be able to deduct her expenses even if her employer doesn't require her to get the master's degree. On the other hand, law school expenses will not be deductable because it will qualify her for a new profession EVEN IF she has no intention of practicing law.
    D/L expenses are treated the same as resident expenses.
    CONSULT YOUR CPA!

    Nosborne
     

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