I have education expense of $35,000 in year 2022 and $15,000 in year 2023. Can I defer claiming tax deduction to next year 2024 because my income in 2024 would be doubled
I have education expense of $35,000 in year 2022 and $15,000 in year 2023. Can I defer claiming tax deduction to next year 2024 because my income in 2024 would be doubled
No. To qualify for an education credit, the expenses must be incurred, paid for and claimed in the same year. There is one exception, but it doesn't apply to your situation.