Is it possible that I qualify for any tax credits like FAFSA tax credits If I paid my way through cosmetology school?
If your vocational school or institution school participated in the federal financial aid program, you can probably qualify for tax credits.
However, you won’t qualify for tax credits if you were reimbursed for expenses through:
- Other reimbursement programs
To learn more, see the Free Application for Federal Student Aid (FAFSA) website at www.fafsa.ed.gov.
You might qualify to claim a business deduction if any of these describes the education expense:
- Your employer requires it to keep your current job or salary.
- It’s for maintaining or improving skills needed for your present work.
- The law requires it.
You’ll itemize to claim the business deduction on Schedule A. If you’re self-employed, claim it on Schedule C.
If you need help handling an estate, we're here to help. Learn how to file taxes for a deceased loved one with H&R Block.
If you’re itemizing deductions, the IRS generally allows you a medical expenses deduction if you have unreimbursed expenses that are more than 7.5% of your adjusted gross income for tax years 2017 or 2018. You can deduct the cost of care from several types of practitioners at various stages of care.
Due to the recent TCJA changes, we have re-released our trusted Tax Calculator. With a side-by-side comparison, you can now plan for this year's tax filing.
What’s the difference between an enrolled agent (EA) vs. a certified public accountant (CPA)? Explore the roles of EAs and CPAs at H&R Block.