Can I deduct the cost of making a movie for my film making graduate school class?

Forum|Forum|6 years ago
June 1, 2019
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Best answer by MichaelMc

Yes, some of the costs of making a movie for your graduate film-making course may be deducible as qualified education expenses, if the movie is a course requirement.

While there are two education credits generally available, as a graduate student, only the Lifetime Learning Credit would apply.

Please note that to claim books, equipment, and materials as qualified expenses under the Lifetime Learning Credit, you will need to have purchased them directly from the school.

To enter these education expenses in TurboTax:

Type Education Expenses in the Search Topics box and click enter.
Click Education Expenses / Credits and begin the interview.
Continue through the screens answering questions about the student, the school, and the education expenses. You will encounter a screen where you may enter Books and Materials. The equipment and materials that you purchased may be entered there.

MichaelMcAnswer

Employee

Yes, some of the costs of making a movie for your graduate film-making course may be deducible as qualified education expenses, if the movie is a course requirement.

While there are two education credits generally available, as a graduate student, only the Lifetime Learning Credit would apply.

Please note that to claim books, equipment, and materials as qualified expenses under the Lifetime Learning Credit, you will need to have purchased them directly from the school.

To enter these education expenses in TurboTax:

Type Education Expenses in the Search Topics box and click enter.
Click Education Expenses / Credits and begin the interview.
Continue through the screens answering questions about the student, the school, and the education expenses. You will encounter a screen where you may enter Books and Materials. The equipment and materials that you purchased may be entered there.

Hanselndracula4

How about for an undergraduate school class where making a film is required for the course? Can I deduct these following expenses: equipment rental, U-Haul truck rental, food for crew, gasoline for crew cars & truck?

These are legit expenses that were required to fund my film project and I had to pay them out of my own pocket.

Hal_Al

Employee

Qualified expenses, for the American Opportunity Credit: "Tuition, required enrollment fees, and course materials that the student needs for a course of study whether or not the materials are bought at the educational institution as a condition of enrollment or attendance" (Pub 970)

Hanselndracula4

So are you saying that the expenses I listed above qualify as "course materials" since I had to fund those expenses in order to produce my film that was a mandatory project for the class?