Is a professional development class tax deductable?
I am a full time employee of a non profit organization and have independantly signed up for an online web design class through the local community college. My organization can’t reimburse me for the cost of the class, but can I use it as a tax deduction? The only purpose for me electing this course is to help my coworkers redesign our new public website (while impressing my boss and earning a little extra job security). Any expert opinions?
Yes, it is deductible as an unreimbursed employee expense on Schedule A (Miscellaneous Deductions subject to a 2% of AGI floor).
Alternatively, you could take a Lifetime Learning Credit and reduce your taxes owed by 20% of the cost.