Lifetime Learning Credit

[Taxman]

I have a client would went to cosmetology school to become a nail tech. She paid about $2,200 and earned her certificate. Can she can use the lifetime learning credit for this? Would this be eligible for the hope credit?

[skhyatt]

I doubt it

the school must be a qualified educational institution. "a post-secondary educational institution eligible to participate in the federal student loan program."

[Taxman]

Thanks for the info

I'll have the client contact the place to find out if they are an eligible institution.

[Koss]

Fyi

Many of these private trade schools are indeed eligible to participate in federal aid programs.

The actual requirements are pretty thin. It doesn't matter whether any students ever get grants or loans. What matters is that the school is eligible. And many of them do in fact provide loans of one form or another.

Cosmetology is a licensed activity in a few states.

There are private schools that provide the coursework for real estate, insurance and securities licensing that qualify for federal student aid.

Cosmetology is on the fringe. In many states it will not qualify. But you should assume anything.

Trucking schools are usually not eligible.

Burton

[Taxman]

Thanks for the post

I checked with the school and they said since they don't offer the full cosmetology course they are not eligible for the lifetime learning credit.

[SueBaby]

I checked with the school and they said since they don't offer the full cosmetology course they are not eligible for the lifetime learning credit.

I have a client that paid over $3000 to go to college on line and she wasn't eligible either. SAD! She should have went to a regular college for that.

[Brian EA]

I have a client that paid over $3000 to go to college on line and she wasn't eligible either. SAD! She should have went to a regular college for that.

SueBaby, your client may qualify depending on the college she took classes from. There are many colleges these days that offer on line courses and qualify for the credits. You do not have to physically attend the college.

[SueBaby]

SueBaby, your client may qualify depending on the college she took classes from. There are many colleges these days that offer on line courses and qualify for the credits. You do not have to physically attend the college.

I called the school. She called and Nope she doesn't. Wish she did though. Waste not to put somewhere on return.

[jainen]

The point of going

>>Waste not to put somewhere on return<<

The point of going to school was to get the education, so I would never call that a waste. Any tax benefit is a nice bonus, but it should usually be a very small part of such decisions.

[SueBaby]

>>Waste not to put somewhere on return<<

The point of going to school was to get the education, so I would never call that a waste. Any tax benefit is a nice bonus, but it should usually be a very small part of such decisions.

Oh, I agree on that. But I would like to see on line colleges get into the federal and student aid programs so they can use on their return as some education credit.

My client now has a wonderful job as an interior decorator and makes good money at it.
The school said they would not back it up if I used any of that money, just in case she got audit. That was a waste.

Client did not want to use any of the money, which would helped her alot, or get audit.
After talking to the school I had to agree.