Message Font: Serif | Sans-Serif
No. of Recommendations: 0
OK, I've read through the tax area of TMF and I even read through IRS pub 508, and I still can't tell whether my educational expenses might be deductible. Here's the story:

My wife and I are both pursuing graduate degrees. My wife is pursuing an M Ed. in counseling psychology and I am pursuing an MBA. My wife is currently working as a career counselor at a college and I am a business researcher at a consulting firm. Neither of us qualify under the definition of being required to get these degrees by our employers. However, I can't tell whether or not we would qualify to deduct our expenses under the definition of "maintaining and improving skills." Any suggestions?
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.