Taxpayer asks:
Hi Taxgirl,
This is related to a previous question your answered. I am searching all over the place for the answer to this question, and I can’t seem to find it. I know that my work-related education is tax deductible and that I have to include it on my Schedule C form. However, I’m not sure where on the form this should be reflected. I can’t find the right grouping under Part II, and I’m wondering if I should include it under Part V. I know this is a specific form-related question, but I was wondering if you could help me out!
Thanks,
Taxgirl says:
This is a great question! For most employees, qualified work-related educational expenses that can’t be classified as something else (like the Lifetime Learning Credit) is reportable on Schedule A at line 21:
However, for self-employed persons, qualified work-related education expenses are reportable on Schedule C, Part II at line 27:
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
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{ 3 comments… read them below or add one }
Would this apply if you were a CPA or CFA and you took required CPE courses? Do these just go on the schedule A?
Dave, if you’re self-employed, I think you would still properly deduct them on Schedule C. If you’re a CPA at a firm, for example, they go on Schedule A.
Education credits and the tuition and fee deduction have been fun (I’m a tax geek) to work with. Since the tuition and fee deduction lowers the AGI it can be used to qualify some clients for other credits they would not get with 2 or 4000 more in their AGI. Also the Tuition and Fee deduction lowers AGI and therefore on most state returns lowers the state tax as well. Many times this is a better deal than the lifetime learning credit.