Can I deduct the cost of my internet service as an education expense if I take college classes online?
Question:
Answer:
Sorry, no. Here is some info from the IRS regarding it.
Qualified expenses do not include room and board, insurance, transportation, or other similar personal, living, or family expenses. Qualified expenses may include fees for books, supplies, and equipment only if the fees must be paid to the school for the student's enrollment or attendance. In addition, qualified expenses may include student activity fees if the fee must be paid to the school for the student's enrollment or attendance.
Follow the link below for more information and explaination of this.
NO
You can deduct these expenses if they maintain or improve your existing employement. You can not if they qualify you for a new profession.
No you can't. Only tuition and fees normally qualify for the education credits.
If the courses are not related to your current job, then the Internet service is not deductible.
If you are an employee, and if the courses are work-related (they maintain or improve your skills for your current position), then the portion of the Internet service that applies to the courses would be an unreimbursed employee business expense. You would include this expense, along with your other unreimbursed educational expenses, on Form 2106. The amount from Form 2106 transfers to Schedule A and is deducted (after subtracting 2% of your adjusted gross income).
If you are self-employed, these expenses are deducted on Schedule C.
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