- quote -

Many proprietary post secondary vocational schools also
qualify under this provision.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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- quote -

I seem to recall some TV ad (perhaps we can call it some
late-night "tax research"!) saying that the advertised
trucking school offered financial aid to students. If this
is Federal financial aid as approved by the US Dept of
Education, it just might qualify for one of the education
credits. The school itself would likely know that.

Bryan
--
Bryan Kellar, EA
Oregon Tax Help, Inc. -- Portland, Oregon
www.oregontaxhelp.com
www.canadatax.org

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"unhappy camper" <noway[at]noway.com> wrote:

- quote -

If you're not a truck driver already, no.

- quote -

Yes, the rule about not becoming eligible to enter a new
profession as a result of the training.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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unhappy camper wrote:

- quote -

Maybe, but not as a business expense since it would qualify
the student for a new trade or business.

- quote -

The IRA money would have to be distributed from the IRA
which could trigger income tax, early withdrawal excise tax
or both. There are no special exceptions for IRA money used
to pay education costs.

Regards,
Bill

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If your current employer orders you to go to school to keep
your job, you can write off costs over 2% of your AGI. If
you are take the school on your own initiative you cant use
this clause.

I was unable to to determine on the web if trucking school
is a "qualified vocational school" for various college tax
deductions.

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unhappy camper wrote:

- quote -

Let me guess. You've just had your tax returns prepared and
found out that the preparer did not deduct the truck driving
school tuition on your return. And also you owe taxes on
the IRA distribution you took to finance said tuition plus a
10% penalty cause you're not 59 1/2 years of age.

if this is the case, he (the preparer) did it right.

ChEAr$$$,
Harlan Lunsford, EA n LA
7 Apr 2005
8 days and counting.....

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"unhappy camper" <noway[at]noway.com> wrote
- quote -

Costs to learn a new trade or skill are generally not
deductible. I also doubt that truck driving school
qualifies for any of the educational tax credits.

- quote -

IRA withdrawals are included as income (no deduction,
addition only). To avoid an additional 10% penalty tax the
money had to be used for "higher education" which I doubt
truck driving school qualifies for.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

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can you write off the cost of truck driving school on your
taxes? How about using your IRA money to payt for it?? Any
special rules on this? thanks

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