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.
Can you claim education credits if you don't claim a child as a dependent? Learn more from the tax experts at H&R Block.
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The Saver’s Credit is a special tax break for some taxpayers saving for retirement. Learn more about the Retirement Savings Contribution Credit at H&R Block
If you didn’t claim the Earned Income Credit (EIC) last year, can you still claim it? Learn more about EIC from our tax experts at H&R Block.