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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Re: Graduate Tuition
Graduate Tuition
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Jaime1
Level 1
01-28-2021
07:22 AM
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Morning,
I took the itemized deduction on my 2018 return, the NY State said the graduate tuition is not deductible therefore I was hit with a penalty, my question is why Pro-connect didn't catch that.
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George4Tacks
Level 15
01-28-2021
10:52 AM
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I assume you were taking this on Schedule A, Miscellaneous. The program believes you are aware of the laws relating to the entry of items in that area. e.g. Investment fees for a shelter investment account are not deductible, but for a taxable account they are.
If you believe the taxpayer met all of the requirements for these grad school expenses to meet the NYS requirements, then write a protest letter to the assessment.
The program is only a tool, not an auditor.
Answers are easy. Questions are hard!
