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June 6, 2022
Question

I paid full tuition for my four years of college education and wanted to see if I could get a deduction off my taxes in my new job due to this?

  • June 6, 2022
  • 2 replies
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2 replies

leeloo
June 6, 2022

What does your new job have to do with paying college tuition? You would have taken  an Education Credit for the tuition you piad, each year you paid it. You may have beem eligible for the American Opportunity or Lifetime Learning Credits. If your parents took the deductions during those years, you are not eligible to take them.

Hal_Al
Employee
June 6, 2022

Q. Can I  get a deduction off my taxes in my new job due to paying tuition for the last 4 years.

A.  No, for many reasons.

 

-Deductions must be taken in the year the expenses was paid.

-Education that prepares you for a new job is not deductible.  Educational expenses to improve your current job skills were deductible as a job expense. But learning a new job is not. 

- Regular W-2 employees are no longer (since 2018) allowed to deduct job expenses, including education.

 Even in the "old days" , job expenses were only a misc. itemized deduction.  You only got to deduct that portion of  your misc. itemized deductions that exceeded 2% of your AGI,  and then only if your total  itemized deductions exceeded the standard deduction (which was doubled under the 2018 tax law. .  (2% rule explained: https://ttlc.intuit.com/questions/2902781-what-is-the-2-rule ).

- You (or your parents, if you were their dependent) were previously allowed a tuition deduction or credit for each year your were in school and had qualified expenses.