I took graduate courses in 2006, my company is reimbursing me 100% for those courses in 2007. Can I write it off on my taxes for 2006?
2007-01-20 17:09:29 · 3 answers · asked by Mike 1 in Business & Finance ➔ Taxes ➔ United States
Since I haven't been reimbused yet could I get the deduction for 2006 and then correct it next year after I have recieved my reimbursement?
2007-01-20 17:26:55 · update #1
You are not allowed to deduct your educational expenses.
Since there is the likelihood of a reimbursement on your educational expenses by your employer, you are not allowed to take a deduction on your taxes.
That would be considered "double-dipping" - getting reimbursed and getting a tax benefit from the same activity.
Now.. if you said that the company was reimbursing you ...say .. 80%, then you can deduct the 20% Unreimbursed portion on your tax return.
Just be glad your company is reimbursing you!!
2007-01-20 17:17:13 · answer #1 · answered by MrMojo1 5 · 0⤊ 0⤋
You cannot deduct expenses you are going to get reimbursed for. But if this is work-related study, travel from work to the course, and from the course site to your home, is deductible at the business mileage rates if that is not reimbursed. If there are any unreimbursed expenses, such as books, journals, copying fees, necessary equipment, parking and tolls, you could take those expenses.
2007-01-21 01:44:19 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋
Nope. If youre getting reimbursed, you cant claim a deduction for it. You cant get a double benefit.
Even if you didnt get reimbursed yet, you cannot expense these courses on your tax return.
2007-01-21 01:14:15 · answer #3 · answered by tma 6 · 0⤊ 0⤋