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That is a rule (prepare for a new job). The real issue though is that it does not appear to fit into either of the 2 below.
You can deduct the costs of qualifying work-related education as business expenses. This is education that meets at least one of the following two tests.
The education is required by your employer or the law to keep your present salary, status, or job. The required education must serve a bona fide business purpose of your employer.
The education maintains or improves skills needed in your present work.
It does not matter that you will be getting a degree but you did not say if either of the 2 above fits. Does your employer require it or is it needed in your present position?
At this point I would say pay over 4 years and use the lifetime credit for education.
As an employee, a change of duties that involves the same general kind of work isn't a new trade or business.
If director is just a step up in responsibility in the same area then no.
But education that is part of a program of study that will qualify you for a new trade or business isn't qualifying work-related education. This is true even if you don't plan to enter that trade or business. You could change form research to instructor with the degree.
My interpretation would not change.
The use as a deduction under itemizing would not be allowed. Education credit would be.
Please do not forget or ignore to give a positive rating (look for the STARS or SMILEY FACES). It adds nothing to your costs but it assists me.
Well then. You could claim the employee deduction on Schedule A.
You said you do not itemize usually so make sure you add all of the other items for Schedule A you can.
Keep track of charitable gifts and you can also use state taxes (if you pay those).
I was not aware your filing status when first speaking about the credit.
I wish I could change your opinion.
Married filing joint has a larger cap and we were still discussing the employee deduction and had not gotten into the specifics of the credit itself.
You are most welcome.