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ShawnA
ShawnA, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Tax
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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NYS is reviewing a tuition deduction as an itemized expense.

Customer Question

NYS is reviewing a tuition deduction as an itemized expense. It is a grauduate course used to maintain or improve the current position. NYS claims it is a minimum requirement course. The client is a teacher.
Kindly advise
Submitted: 1 year ago.
Category: Tax
Expert:  ShawnA replied 1 year ago.

Hello. My specialty is focusing on YOUR Financial needs. Financial Planner/Business Owner for 20 years. Retired CPA

Is the course a requirement of your current employer?

Customer: replied 1 year ago.

No it is not

Expert:  ShawnA replied 1 year ago.

I see no issue as the federal guideline are clear

Can You Claim the Deduction?

The following rules will help you determine if you can claim the tuition and fees deduction.

Who Can Claim the Deduction?

Generally, you can claim the tuition and fees deduction if all three of the following requirements are met.

  1. You pay qualified education expenses of higher education.

  2. You pay the education expenses for an eligible student.

  3. The eligible student is yourself, your spouse, or your dependent for whom you claim an exemption on your tax return.

Qualified Education Expenses

For purposes of the tuition and fees deduction, qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution.

Eligible educational institution. An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U.S. Department of Education. It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. The educational institution should be able to tell you if it is an eligible educational institution.
Expert:  ShawnA replied 1 year ago.

Educational Expense Tax Deduction for Grad Students

If you are required to get your masters degree for a job, you may be eligible to receive the Educational Expense Tax Deduction. In order to be eligible for this deduction, you must either be pursuing your degree in order to keep your current salary or job, or pursuing your masters degree in order to improve your work-related skills to maintain your job. A graduate student who is pursuing a masters degree that could allow him to switch careers is not eligible.

http://www.campusexplorer.com/college-advice-tips/2A0AE325/Tax-Benefits-for-the-Graduate-Student/

Customer: replied 1 year ago.

thanks so much

Expert:  ShawnA replied 1 year ago.
Hopefully I get a great rating!!!

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