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Tax Deductions for Job Training

Job Training Tax Deduction

Enrolling in a job training course to enhance your employment skills, or to acquire new ones for a new career, always comes with a price. There are various ways you can use your training course expenses to reduce your tax bill at the end of the year, regardless of whether you currently have a job or are unemployed. However, before you count on claiming a credit or deduction, review the eligibility requirements for each tax benefit to determine the potential tax savings.

The work-related education deduction is available if your motivation for enrolling in a training course is to enhance skills that you can use in your current employment or is a requirement of your employer. If eligible, you can include the out-of-pocket expenses you incur paying tuition to enroll in courses, the books and supplies your purchase and even some of your transportation costs, such as bus and taxi fare to commute back and forth to school. However, the deduction is only available if you elect to itemize on Schedule A. If you choose the standard deduction, you should evaluate other deduction and credit options.

Tuition and Fees Tax Deduction

If the school you enroll at is eligible to participate in the U.S. student financial aid program, you can claim a tuition and fees deduction on your tax return as an adjustment to gross income. Moreover, there is no requirement that your training courses count towards a degree or certificate; taking a single course during the year is sufficient to qualify for the deduction. However, unless the school requires direct payment for books and supplies as a condition of enrollment, the deduction will only cover your tuition and fee payments up to the applicable limit for the year. If you decide to claim the tuition deduction, you must report the school expenses on Form 8917 and attach it to your return.

Lifetime Learning Credit

The lifetime learning credit has the same eligibility requirements as the tuition deduction; however, the tax benefit you receive is very different. If you take at least one training course during the year, you can claim up to a $2,000 credit. You calculate your credit as 20 percent of the first $10,000 of tuition and fee payments you make to enroll in a training course, as well as the cost of books and supplies if your school requires direct payment for them as a condition of your enrollment. A credit reduces the tax you calculate on your return on a dollar-for-dollar basis. Therefore, before choosing which tax benefit to claim for your training courses, you should evaluate whether the credit or the tuition deduction will save you more in tax.

Reference: IRS Publication 970-Tax Benefits for Education