What kind of deductions can I claim as a full time student working part-time?

Question

I was wondering what kind of deductions I could claim on next years tax returns. I've heard you could use things for work as long as they excede a preset amount, but I don't know if that can apply to someone working part-time or if there are other things I could deduct because I'm a full time college student.

Answer 1

You can get your normal standard deduction, which would be $5,350 for a single person, but if you are a dependent of your parents you don't get the personal exemption. As far as expenses for work, only if your employer requires these things. Driving to and from work is not a deductible expense. Also, if you are on your own and able to claim yourself you could get education credit, either Hope Credit (covers Freshman and Sophomore years in college) or Lifetime Learning Credit (years after Freshman and Sophomore) or tuition and fees deduction (for either Hope or Lifetime Learning). If you are a dependent of your parents they would get the credit instead of you. There are income limits though where the credit/deduction get phased out. I have attached a link to education expenses and work related expenses.

Answer 2

Probably not much if anything, depending on your job. Working part time or full time doesn't matter. If you have uniforms that you have to buy, then those could be deductible if they aren't suitable for everyday wear - like maybe have the company logo. If you use your own car as part of your job, then you could deduct mileage for the miles you drive on the job - NOT the miles getting back and forth from home to work.

But you could only deduct the amount of unreimbursed business expenses that are over 2% of your adjusted gross income - and then, only if you itemize, and there aren't many students who have enough deductible expenses to itemize.


As a college student, you might be able to get an education credit for some of your tuition and fees. But if you are a dependent of your parents, they are entitled to the credit, and you can't take it.

Answer 3

You can get a credit for your tuition. There is a form the school provides you at the end of the year saying how much you paid (even if you didnt actually pay it yourself). You dont get credited for the full amount though.

The rest of the credits for books and stuff can be complicated, so I say stick with the tuition credit and file Single and 0 dependants. I recommend claiming 1 or 2 allowances on your W-2. Theyll take more taxes out, but youll get more back come tax time.

Answer 4

i might say from journey stay interior the eating place business enterprise, yet, i might propose transforming into a waiter and attempting to get a job at a intense type eating place that serves alcohol. Or bypass to bar tending instructions and get qualified, waiting tables and bar tending paid my way with the aid of college and previous. Plus, tending bar, based what your going to college for, you will build a great community of connections that would desire to are available available later down the line. My chum who nevertheless has a tendency bar, remodeled $60,000 final year, so do no longer run from the eating place biz yet, purely think again the place you're interior the business enterprise.

Answer 5

If the schooling you are getting supports your current job, you can take a lot more off.

Answer 6

not much your parents can though