Can life coach training expenses be tax deductible?

April 08, 2015 by Dave Du Val, EA
Personal Development, Guiding Skills, Help, Coaching, Learning

Hey Dave,

My wife is training to begin her career as a life coach. Can the expenses of her training, including tuition, room, board & travel, be tax deductible?

Sandep

 

Sandep,

Probably not. Generally, education and training expenses that qualify you for a new job are not deductible. However, if the training is being offered by a qualified educational institution, there is a chance that you may qualify for an American Opportunity Credit, a Lifetime Learning Credit, the Tuition and Fees Deduction, or the Student Loan Interest Deduction if you are paying for the education with a qualified student loan.

More information on tax benefits relating to education may be found here. You will also find useful information in the Education section of TurboTax in the Deductions and Credits area. Please look over all of the material carefully to be sure you qualify before claiming any credit or deduction, as each has specific requirements attached to them.

Deductibly Yours,

Dave

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Rhonda D. Guillory, EA
Learning and Development Manager

 

Rhonda was a Seasonal Tax Return Reviewer at TaxAudit before joining the permanent staff as an Audit Representative in 2009. She has a Bachelor of Science in Computer Science and worked in the Information Technology field for 15 years before making a career change. Since transitioning to the field of income tax in 2003, she has prepared and analyzed hundreds of tax returns. Rhonda enjoys helping taxpayers and tax professionals learn and understand the fascinating world of income taxes. Currently, she is the Learning and Development Manager.


 

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