Saba and Income Tax Return

[wolfvgang22]

Does anyone know if I can claim the seat deposit and tuition paid to Saba as a deduction on my income tax return? I know that money paid for education here in the states is deductible.

[Siddman]

Over here in Toronto, Canada you can claim the seat deposit and money paid for the tuition when filling tax return.....but i am not sure about your state..but i am pretty sure that you can claim some of the expense because if you are allowed to fill in a tax return...... if one is staying abroad i am sure you can claim for the expenses that occurred while in that stay....but the best thing to do is to call the authorities and try to find out the real picture.......

Siddman,


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Faith it seems, is not wihtout a touch of irony.

[rdecastro]

Does anyone know if I can claim the seat deposit and tuition paid to Saba as a deduction on my income tax return? I know that money paid for education here in the states is deductible.

Education expenses are deductible only if they further your current occupation.

Educational expenses that qualify you for a new occupation (such as physician) are NOT deductible on US income taxes.

Cheer up though, once you have the MD, all your board certification and CME expenses will be deductible.

[*miamigirl*]

Actually, we just checked with our accountant on this question. If you are a Physician Assistant going to med school, you can deduct your medical school education. If you are a CRNA going to med school for anesthesiology you can also deduct you education. We were told this was not so for nurses. However, I think an ARNP should be able to as well. Those seem to be the only fields that you are extending your education and not necessarily changing your career. Those allied health professionals actually practice medicine as an MD does. Im sure there are many other exceptions I dont know about. Our accountant is pretty reputable, he does the accounting for most of the docs in the city where I live. I hope this helps you! :roll:

[*miamigirl*]

Wolf: Real heros can wear uniforms AND bling bling!!!!lol :lol:

[scoobz1981]

Well, I know that SABA is really good with sending you tax info at the end of the year. A week or so ago, I got my tax stuff from them. The only weird thing was that although I had paid for 3 semesters last year, they only credited me for tax purposes with 14,000 dollars and not the 19,000 or so that I paid, but whatever. The point is, that they do send you tax info and a form already filled out to help you out (this is for Canadian students at least).


Val

[wolfvgang22]

Well, I called the Gardner office and asked them, as I should have done to begin with. You are correct about the professions stuff, however I'm a teacher going into medicine.
The only way I could deduct Saba tuition from my taxes is if Saba had a DOE number, and Saba does not. Bummer. :(
Oh well....at least Ive got kids I can claim. :?

[futuremd59]

I think you can take the lifetime learning credit. This can give you up to a $2,000 tax credit if you are income eligible.

Your thoughts?

[wolfvgang22]

I checked it out. You can only take the lifetime learning credit only if your school has a DOE number. So SGU, Ross, and AUC students can, because they have a DOE number. Saba doesn't. Thanks, though.