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Financial Planning / Tax Strategies
|Subject: Education Deductability||Date: 1/19/2002 12:23 PM|
|Author: cookedstock||Number: 57364 of 120458|
Ok, I know that there is some grey area out there on the deductability of tuition dollars spent. My wife and I both took college classes last year, and I am curious as to some opinions on if they would be deductible.
My wife is a teacher, and took classes that led to her masters degree. I am assuming that the mileage to drive to the class and the books would be deductible as well?
I am an assistant treasurer in a school, and I am taking accounting classes and school finance and law classes. These classes will allow me to obtain my treasurers lisensce when I am done with them. I will not be changing professions. I will still be working for the school.
I would assume mileage and books here as well.
The total amount spent on mileage/books/tuition for both of us last year was $6,228.59
Thanks for any help on this matter. I just don't want to screw anything up. My guess from reading the tax info/laws in turbo tax is that they would all be deductible. However, I just wanted to gather a second opinion or two from some "experts".
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