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.
Changing jobs can come with tax implications like job search and moving expense deductions. Learn more about these potential benefits at H&R Block.
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.
Learn how to deduct student loan interest with H&R Block. Get information about qualified education expenses and see if a student loan tax deduction applies to you.
What does it mean to be an enrolled agent? Learn more about the roles and requirements of enrolled agent (EA) tax preparers at H&R Block.