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February 4, 2025
Question

Can I deduct a class I took and paid for in cash?

  • February 4, 2025
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    February 4, 2025

    You might qualify for the Lifetime Learning Credit, if you take the course to acquire or improve your job skills as long as you meet all of these qualifying requirements:

    • You, your dependent, or a third party paid qualified education expenses for higher education at an eligible educational institution
    • The qualified education expenses were for an eligible student
    • The eligible student is you, your spouse, or a dependent on your tax return
    • For the full credit, your 2024 modified adjusted gross income (MAGI) is less than $90,000 ($180,000 if you are filing jointly)
      • For a reduced credit, your MAGI is between $80,000 and $90,000 ($160,000 and $180,000 if you're filing jointly)

    For more information check: Education credits - AOTC and LLC

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