Is the money I spent on my eCornell coursework tax deductible?

As tax season approaches, and the April 15th deadline creeps upon us, it’s a great time to ask the question, “Is the money I spent on my eCornell coursework tax deductible?”

Well, that is a question your accountant can answer for you – however, if you do your own legwork, you might find some great tips that the IRS has available online to get you on your way.  According to the IRS website there are ways to have your eCornell education work in your favor, tax-wise, and deduct it as a work-related educational expense as an itemized deduction on your 1040.

Again, you should consult with your accountant before claiming your eCornell coursework as a work-related educational deduction, but according to the IRS website you are able to use educational expenses as a deductible work-related educational expense when your eCornell courses are used for (1) education that maintains or improves your job performance or (2) serves the purpose of your employer and is required by the employer or by law to keep your salary, status or job, and (3) the education is not part of a program that will qualify you for a new trade or business.

Most of our students that pay for their eCornell education out of pocket, and are using their studies to enrich their own career, could qualify for a legitimate and significant work-related deduction, and who couldn’t use some extra money nowadays?

Please consult with your accountant before making any tax decisions, or visit the IRS website, or call the IRS TeleTax line at 800-829-4477, topic 513, for more information.

Christopher Wofford is Digital Media Producer and host of WebSeries at eCornell.
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