Is Tax Education Deductible?

Tax season is right around the corner, and if you’re a tax student you’re likely wondering whether or not your education is going to be deductible. We get this question a lot so we thought we’d address it in a blog post!

For students who attend a University, education credits or tuition and fees deductions would apply. Unfortunately, tax education students cannot claim either for our courses (or any online tax courses). Why? Because the IRS does not consider our school as an “Eligible Educational Institution”. Here is their definition of an Eligible Education Institution:

“An eligible educational institution is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U.S. Department of Education. It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. The educational institution should be able to tell you if it is an eligible educational institution.”

All hope is not lost though! There are other ways to reduce your tax bill if you are one of our students.

If your education was required by your employer

You can claim the expense as an employee business expense, on Form 2106 or Form 2016 EZ, if your employer required you to take one or more of our courses.

If you are self-employed

If you are a self-employed tax preparer, you can deduct the cost of the course or courses you have taken through The Income Tax School as a business expense on your business tax return (Schedule C, CE-EZ, Form 1120, 1120-S or 1065).

So there you have it! You’re ready to file your taxes and hopefully take some sort of deduction for your education.