2007-03-18 17:14:20 · 5 answers · asked by bulldogg317 1 in Business & Finance ➔ Taxes ➔ United States
Yes. Use the lifetime learning credit.
2007-03-18 17:16:57 · answer #1 · answered by mukwonago53149 5 · 0⤊ 1⤋
Yes, you can only for the tuition and necessary fees that you have to pay to register as a student. The books cannot be deductible unless it is included in the registration price. And just so you know it is a percentage of the fees taken on the tax form not all of it. If your income is too high or if you file Married Filing Separate you won't be able to use the credit any ways.
2007-03-18 17:27:13 · answer #2 · answered by Kelin L 2 · 0⤊ 1⤋
Not unless you are an independent consultant and earned money in the same year as you paid the tuition. The learning credit will probably only apply for the small amount of the tuition you paid. It is just like any other college tuition.
2007-03-20 04:32:32 · answer #3 · answered by NYC_Since_the_90s 6 · 0⤊ 0⤋
you do not "write off" tuition or other mba related expenses. you might qualify for the lifetime learning credit, which is better than a writeoff anyway.
2007-03-19 05:12:00 · answer #4 · answered by Ovrtaxed 4 · 1⤊ 0⤋
If you meet requirements such as income limits, you can take a tuition and fees deduction or a Lifetime Learning credit, whichever is more beneficial to you - you can't take both.
2007-03-18 17:52:21 · answer #5 · answered by Judy 7 · 0⤊ 1⤋