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February 21, 2021
Question

How can I write off yearly stock course education if they don't send any forms?

  • February 21, 2021
  • 1 reply
  • 0 views
It cost me $1,100 a year for the membership. There were 15 courses and I completed all of them and was given a certificate for completion.

1 reply

Hal_Al
Employee
February 21, 2021

Investments expenses are no longer deductible.  Even when they were, they wer only an itemized deduction subject to the 2% of AGI rule.

 

To be eligible for an education credit, or deductions, 

 To be eligible for the tuition credits or tuition & fees deduction, the course must be taken at "an eligible institution". The school should be able to tell you if it is an eligible educational institution. In general, an eligible educational institution is an accredited college, university, vocational school, or other postsecondary educational institution, including accredited, public, nonprofit, and proprietary (privately-owned, profit-making) postsecondary institutions. Additionally, in order to be an eligible educational institution, the school must be eligible to participate in a student aid program administered by the Department of Education. If they issue a 1098-T they are probably an eligible institution.

Enter your school at the link below, to see if it's on the dept. of education list.

https://fafsa.ed.gov/FAFSA/app/schoolSearch?locale=en_EN

 

If you qualify, 

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

  --Education Expenses