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March 4, 2020
Question

I went to school for makeup and used TFC student loan financing to pay it, is it deductible?

  • March 4, 2020
  • 1 reply
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1 reply

March 5, 2020

Yes, you can include this amount. It doesn't matter how your educational expenses were paid; eligible expenses can be deducted whether they were paid out-of-pocket or through a student loan. However, you must have attended an eligible educational institution to be eligible for claiming an education credit. A qualifying educational institution is any college, university, vocational school, or post-secondary educational institution eligible to participate in a student aid program administered by the US Department of Education (which is pretty much every accredited post-secondary educational institution).

Please view this TurboTax FAQ for more information about claiming an education credit.

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