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Tax Deductions for Nursing Students

Home >> Articles >> Financial >> Tax Deductions for Nursing Students

If you`re a working nurse studying to earn an advanced nursing degree you`ll be happy to know that you may be entitled to lower your income tax bill by applying certain tax deductions. We`ll examine some of the deductions that you might qualify for below, but remember that everyone`s circumstances differ, so be sure to read IRS rules or consult with your tax professional before deciding which are appropriate for you.

Can I Claim Work Related Expenses?

Nursing uniforms, non-slip nursing shoes, protective gear, tools, equipment, or other work-related clothing and supplies required for your nursing job or nursing course are deductible. So is the cost of laundering and maintaining them. Professional membership fees, professional journal subscriptions, nursing license renewal fee, malpractice insurance premiums, union dues, and some additional deductions available to travel nurses are all examples of deductible work related expenses. Be sure to save your receipts!

In general, work related expenses can be deducted - but only if you itemize your deductions. This is not as straight-forward as you might assume, as it is usually only beneficial to itemize your deductions if your itemized deductions exceed your standard deduction. To determine which type of deduction will be of greater benefit to you, you will need to add up all of your expenses and see how this figure compares to your standard deduction.

Deducting Education Related Expenses

While you can`t deduct the cost of the initial nursing education that allows you to become a nurse in the first place, the good news is that you can deduct the cost of any additional education that you engage in to further your nursing career. Generally speaking, you need to be able to prove that you are improving your qualifications for either maintaining your job skills or improving them to get a better nursing position in order to meet the criteria for deducing education expenses.

This means that expenses you incur for required seminars, nursing continuing education courses required to maintain your license, tuition for an advanced nursing degree, or nursing certificate programs that you pay yourself are eligible for a tax deduction. You can claim a deduction for the cost of any course fees, books, stationery, internet connection, telephone calls, tools or equipment and travelling to and from work-related training courses.

The cost of parking, tolls, taxis and public transport if you are required to travel to attend seminars, conferences, meetings and training courses not held at your usual place of work, or between 2 or more jobs (if you need to stay away overnight you can also claim for the cost of all meals and your accommodation) can also be taken as a deduction.

Generally, the cost of further education that is intended to improve your existing job skills is subject to a 2% limitation status however, even if you don`t itemize you can claim up to $4,000 of qualified higher education expenses (tuition, books, fees, laptop), and up to $2,500 of student loan interest.

Tax Credits For Nursing Students

1. The American Opportunity Credit: A partially refundable tax credit tax credit of up to $2,500 of the cost of qualified tuition and related expenses such as books, supplies and equipment paid during 2009 and 2010. Eligible taxpayers will receive a tax credit based on 100 percent of the first $2,000 of tuition, fees and course materials paid during the taxable year, plus 25 percent of the next $2,000 of tuition, fees and course materials paid during the taxable year. A taxpayer who pays qualified tuition and related expenses and whose federal income tax return has a modified adjusted gross income of $80,000 or less ($160,000 or less for joint filers) is eligible for the credit. The credit is reduced ratably if a taxpayer?s modified adjusted gross income exceeds those amounts. A taxpayer whose modified adjusted gross income is greater than $90,000 ($180,000 for joint filers) cannot benefit from this credit. Note: You cannot claim the tuition and fees tax deduction in the same year that you claim the American opportunity tax credit or the lifetime learning credit.

2. The HOPE Scholarship: For 2009 and 2010, the HOPE tax credit has been temporarily replaced by the American Opportunity Tax Credit, which has some more favorable benefits. Until it officially resumes, only families who have a minimum of one student enrolled in an eligible higher education institution in a Midwestern disaster area can apply.

For those who are eligible to currently apply, the $3,600 credit (per student) applies to the first two years of undergraduate study at an eligible institution on at least a half-time basis. It is non-refundable, which means that it can only be applied to tax that you owe. If your family is eligible to apply for the HOPE credit, you cannot also apply for the American Opportunity tax credit for any other students in the household.

To be eligible for the HOPE tax credit in 2009, your modified AGI needed to be $60,000 or less if you were filing alone or $120,000 if you were filing jointly. The actual amount that you receive may be less than $3,600 as factors such as your income, higher education expenses and the number of eligible students in your family are taken into account. To receive the tax credit, you need to owe taxes and file a tax return. If you are claimed as a dependent on the tax return of a spouse or parent, they must apply for the credit.

3. The Lifetime Learning Tax Credit: If you don`t qualify for the HOPE or American Opportunity tax credits, you may be eligible for the Lifetime Learning tax credit. This is less generous but is open to a greater number of students. To be eligible, you need to be enrolled in a study program at an eligible post-secondary institution but this is not restricted to degree programs. Like the HOPE tax credit, it is non-refundable and can only be applied to your taxable income to reduce the amount of tax that you owe.

Whereas the HOPE and American Opportunity tax credits have a per student threshold, the Lifetime Learning tax credit is limited to $2,000 per tax return. This rises to a maximum of $4,000 if one or more members of the family are enrolled in an institution in the Midwestern disaster area. To be eligible for the tax credit in 2009, your modified AGI needed to be $60,000 or less if you were filing alone or $120,000 if you were filing jointly.

These tax deductions and tax credits have helped thousands of nurses and nursing students reduce their income tax bills, so why not see what you`re entitled to?

Learn More About Nursing Degree Programs
Achieve the education you need to turn your nursing career goals into reality by requesting program information from nursing schools that offer accredited nursing degree programs that match your needs:

Explore Online Nursing Programs, Explore Nursing Schools By State

The College Network
Online

Start your nursing career with The College Network. Earn your NLNAC/CCNE Accredited nursing degree online from one of our partner universities: Regis University, Indiana State University, Angelo State University and more at 1/2 the cost and time of traditional universities with no campus attendance, no wait list and local clinicals.

Programs:

LPN/LVN to RN - BS in Nursing - Indiana St. - (Licensed LPN/LVNs only)
Paramedic to RN
LPN/LVN to RN - AS in Nursing (Licensed LPN/LVNs only)

University of Phoenix
Campus

As the largest private university in North America, University of Phoenix has more than 200 locations, and is available online in most countries around the world. Whether you're seeking a college degree at an associate's, bachelor's, master's, or doctoral level, we can help you reach your academic goal—and sooner than you might think.

Programs:

M.S. in Nursing
Doctor of Philosophy in Nursing
BS in Nursing (RN Required)

Campus Locations:

Online

Palm Beach Gardens

Salida

Clearwater

Diamond Bar

St. Louis

Livermore

Ann Arbor

Oakland

Manassas

Tucson

Flint

Daytona Beach

Las Vegas

Mesa

Houston

Fairfield

Beachwood

Westlake

Fairfax

Aurora

Bakersfield

Clinton Township

St Louis Park

Hollywood

Dallas

Woodland Hills

Baton Rouge

Gardena

Lathrop

Hurst

Arlington

Orlando

Temple Terrace

Costa Mesa

Littleton

Ontario

Grand Rapids

Irving

Miami

Maitland

Fort Lauderdale

Chandler

Nashville

Independence

Lone Tree

Livonia

Plantation

Phoenix

Henderson

Tampa

Sacramento

Lancaster

Saint Paul

East Lansing

Elk Grove

Murrieta

Jacksonville

Westminster

Pasadena

Saint Louis

Sarasota

Fresno

Southfield

San Antonio

Los Angeles

Troy

Rancho Cordova

San Francisco

Roseville

Spring

Reston

Killeen

Sugar Land

San Diego

San Jose

Palm Desert

Portage

Keiser University
Campus

Keiser University eCampus Online offers degrees in fields that are in high demand and provides job placement assistance to all its students and alumni.

Programs:

Nursing, MS
Medical Assisting, AS

Campus Locations:

Fort Lauderdale

University of Southern Nevada
Online

The USN accelerated online program offers accelerated nursing education that allows you to earn a BSN in just 14 months. This new program blends the personal convenience of online course study with enriching clinical learning in Henderson, Nevada.

Programs:

Accelerated BSN

Dover Business College
Campus

Launch a business, healthcare, or technology career with Dover Business College. Train with the most current technology programs at one of our two (Dover and Paramus, New Jersey) campuses.

Programs:

LPN (Licensed Practical Nurse)
Patient Care Technician
Medical Assistant

Campus Locations:

Dover

Clifton

Stevens-Henager
Campus

For more than 119 years, Stevens-Henager College has worked to train generations of graduates for new careers. Stevens-Henager College is accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC). Our degree programs, designed to help graduates compete in the ever-evolving employment market, include Medical Specialties, Respiratory Therapy, Healthcare Administration, Surgical Technology, Business Management and Accounting, Computer Technology and Networking, Computer Programming, Computer Science, and Graphic Arts*. Online programs are offered via Stevens-Henager College, Salt Lake City/Murray. Stevens-Henager College Idaho Falls is a branch campus of the CollegeAmerica, Flagstaff, AZ, main campus.

*Check each campus for program availability.

Programs:

Bachelor of Science Completion in Nursing
Associate Degree in Nursing Education
Master of Science in Nursing Administration

Campus Locations:

Ogden

Boise

Layton

Orem

Logan

Saint George

Idaho Falls

Nampa

Murray

Lehi

CollegeAmerica
Campus

Finally, a college that delivers. CollegeAmerica is truly unique in that their curriculum is designed for one purpose and one purpose only: to prepare students for success.

Programs:

Bachelor of Science Completion in Nursing (Online)
Associate Degree in Nursing
Bachelor of Science Completion in Nursing Administration (Online)

Campus Locations:

Denver

Cheyenne

Colorado Springs

Flagstaff

Fort Collins

Phoenix

Carrington College California
Campus

Carrington College California offers the programs you need to begin a career in healthcare. Choose from Healthcare, Massage Therapy, Dental Assisting, Pharmacy Technology, or Veterinary Services.

Programs:

AS in Vocational Nursing
Certificate in Vocational Nursing
AS in Medical Assisting

Campus Locations:

Antioch

Sacramento

Emeryville

San Leandro

San Jose

Pleasant Hill

Stockton

Pomona

Citrus Heights

Sanford-Brown Institute
Campus

Get everything you need for the medical career you want. Sanford-Brown Institute's advanced programs allow you to complete your certificate or degree program in as little as 9 months. Learn more today.

Programs:

Nursing
Medical Assistant
Medical Assistant Specialist

Campus Locations:

Melville

Monroeville

Austin

Orlando

Keiser University Campus
Campus

Keiser University offers accredited degree programs in today's high-demand careers: Healthcare, Technology, Paralegal, Business, Nursing and Legal Studies.

Programs:

Nursing, BS (Online Only)
Nursing, AS
Nursing, MS (Online Only)

Campus Locations:

Lakeland

Melbourne

Jacksonville

Fort Myers

Port Saint Lucie

Orlando

Tallahassee

Sarasota

Fort Lauderdale

Tampa

West Palm Beach

Daytona Beach

Hollywood

Charter College
Campus

Prepare for a better career and a brighter future with help from Charter College. Our accelerated Bachelors Degree, Associates Degree, and Certificate programs are designed to help you complete your education as quickly as possible. We offer year-round classes and flexible scheduling - study anytime from anywhere. Our small class sizes and dedicated instructors ensure a personalized education experience. We provide students not only with the technical skills necessary for success, but also job search and placement assistance so you can find the job that's right for you after graduation.

Programs:

Vocational Nursing
Medical Assistant

Campus Locations:

Canyon Country

Anchorage

Vancouver

Oxnard

Bellingham

Wasilla

Lancaster

Summit College
Campus

Get your career started with an education from Summit College. We offer programs in legal office assisting, licensed vocational nursing, office administration, administrative and clinical medical assisting, medical billing and coding, dental assisting, and accounting assisting.

Programs:

Licensed Vocational Nurse
Certified Nursing Assistant

Campus Locations:

Colton

Anaheim

Kaplan University
Campus

Advance your career and get the distinct competitive advantage you need with an online degree from Kaplan University. And do it without missing a day of work.

Programs:

MS in Nursing
RN to MS in Nursing
RN to BS in Nursing

Campus Locations:

Fort Lauderdale

Lincoln Technical Institute
Campus

Lincoln Technical Institute provides career-focused, hands-on training programs with industry experienced instructors. Get the skills for a rewarding in-demand career.

For more student consumer information, please visit www.lincolnedu.com/lincolnconsumerinfo

Programs:

Nursing
Medical Assistant

Campus Locations:

Casselberry

Mount Laurel

Shelton

Hamden

Edison

Paramus

Allentown

Somerville

Lincoln

Saint Petersburg

Lowell

Brockton

Philadelphia

Florida Career College
Campus

Train for the real-world skills that help you launch a successful technology or healthcare career with a degree, or diploma from Florida Career College.

Programs: