Education Expenses
Response to the following problem:
For each situation described in Parts a. through d., determine whether the taxpayer meets the criteria for the education expense deduction.
a. An accountant pays $525 for accounting courses to meet the state's continuing professional education (CPE) requirement. The accountant is employed as a CPA.
b. A CPA pays $3,500 for tuition and books for courses he is enrolled in at law school. The courses count in meeting the state's CPE requirements.
c. A high school teacher pays tuition of $2,700. The teacher is enrolled in graduate school and is taking classes in order to meet the state law requirements that will allow her to renew her teaching certificate.
d. A company executive pays $8,000 for tuition, books, and transportation to attend an executive MBA program to improve his business management and employee relations skills.