Continuing Education for Employees

Those that are employees and receive W2 income have some options when it comes to the costs of any classes they take to further their job skills. Employees can take the expense of classes that are required for work, or further their current job skills, as deductions on Sch A. These are deducted in the Miscellaneous section of Sch A, and only deductible if greater than 2% of the Adjusted Gross Income. For many people it is hard to meet this mark. Those that can’t, can always take a deduction using the Lifetime Learning Credit. This covers tuition, fees, books, supplies, and equipment. It is available for degree and non-degree programs and covers 20% of expenses up to $2,000 per year.

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