Announcement

Collapse
No announcement yet.

Education Expense on Schedule A

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Education Expense on Schedule A

    I have a client whose adjusted income is $83k so he doesn't qualify for education credit nor tuition and fees deduction. He had already been working as an environmental engineer and already had one 4-year degree prior to obtaining another degree in environmental engineering. This new degree will help him improve the skills for current job. So, I was thinking to claim the tuition paid in 2012 for second 4-year degree as an education expenses (job expenses) on schedule A, but I am not 100% confident in my approach. In the textbook, I read about education expenses, and it seems that this would be fine to claim on schedule A.

    I am sure some of you have come across this before. Any feedback will be greatly appreciated.

    Thanks,
    Tags: None
    #2
    Education expenses on Schedule A

    I have used it before a number of years ago. I had a publication (I no longer have) that gave me the confidence to claim it, so cannot cite anything. I also had a VP at a hospital who got her masters and took it on A. The problem with taking it on A is AMT.

    Comment

      #3
      Originally posted by nkustura View Post
      education expenses (job expenses) on schedule A, but I am not 100% confident

      Pub 17, p. 194, Figure 27-A- Little flow chart for work-related education expenses:

      http://www.irs.gov/pub/irs-pdf/p17.pdf


      Might help you.

      Comment

        #4
        Lifetime Learning Credit?

        What's wrong with taking the LLC or the Tuition & Fees deduction for these expenses?

        Comment

          #5
          Phase Outs

          Originally posted by zeros View Post
          What's wrong with taking the LLC or the Tuition & Fees deduction for these expenses?
          LLC phases out at $63K (S)
          Tuition & Fees at $80K (S)

          I'm assuming he is filing Single

          Mike

          Comment

            #6
            That's correct. He is filing single and his income is above the thresholds for credit and tuition and fees deduction.

            Comment

              #7
              If the deduction is OK don't forget the possible mileage. That can add up but does get a little tricky as to just when or what mileage may be included as part of the expense.

              Comment

                #8
                This Might Help

                Reg 1.162-5

                http://www.gpo.gov/fdsys/pkg/CFR-2003-title26-vol2/pdf/CFR-2003-title26-vol2-sec1-162-5.pdf
                EAnOK

                Comment

                Previous template Next

                Disclaimer

                Collapse

                This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

                Working...
                X