Q. You recently talked about employees deducting transportation to and from school. Is there any restriction against air fare? P.W., Fairfax, Va.
A. No, assuming you otherwise qualify. According to IRS Pub. 970, Tax Benefits for Education, you may deduct the cost of air fare and other long-distance travel in some situations. “If you are regularly employed and go directly from home to school on a temporary basis, you can deduct the round-trip costs of transportation between your home and school. This is true regardless of the location of the school, the distance traveled, or whether you attend school on nonwork days.”
For more details, see www.irs.gov/publications/p970/ch12.html.
- Soak up tax breaks at a winter convention on Uncle Sam's tab
- Give away life insurance? It's not crazy; it's a great tax move
- Tax Freedom Day is April 19 (when you really start making money)
- Cash in, not out: Reap a tax bonanza on retirement plan payouts
- Lessons from the Tax Court: Homebuyer credit lockout