Can I get money back for course receipts when I file taxes?

Question

I recently took a course to become a medical assistant. After I paid the instructor, he gave me back a receipt with only my name, the amount I paid, and his signature, which is nonlegible. He said I could bring it in when I file for taxes and get the money back. Is this true with a receipt like this? I check the Better Business Bureau and his business is listed their with no complaints. Can I get money back for course receipts when I file for taxes?

Answer 1

You don't just get your money back for course at tax time. If that were the case, education would be free for everyone!

However, there are some deductions and credits you may be eligible for. For qualified higher education or continuing education tuition, there are three possible options:
-the Hope Credit -- for tuition expenses in your freshman or sophomore years of higher ed
-the tuition deduction - allows you to deduct a portion of eligible tuition expenses
-The Lifetime Learning Credit -- a credit of 20% of eligible continuing education or college tuition expenses up to a max $2000 credit

You can only take one of the three each year so you need to figure out if your classwork qualifies for any of them and then which one would help you out the most. I'd search for all 3 on www.irs.gov to get the qualifying details. If this is an accredited school, you should receive some sort of tuition statement around the end of January.

Answer 2

Not exactly, and maybe not at all. Is that school eligible for their students to participate for FAFSA student aid? If not, then you can't use tuition and fees from the school for education credits.

Even if it is an eligible school and the course you took is eligible for education credits, you would only get back a portion of what you paid, not all of the tuition.

So it sounds like he lied to you. It also sounds like yours might be the first complaint listed with BBB.

Answer 3

Ask the school if they are a qualified 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 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.

If yes, then the tuition may be deductible OR you may claim a lifetime learning credit.

Answer 4

Does the "school" accept Federal financial aid?

If it does not, then you can not use the expenses for either of the education credits or the education deduction.

Legit schools issue a 1098T at the end of the year showing tuition paid during the year.

Answer 5

It has to be an accredited school to get money back for your taxes. So, it would depend on whether or not he is accredited. It doesn't sound like he is though. Good luck.