Any one knows whether the tuitions paid to Schweser are Qualified education expenses? Thanks.
They would fit in continued education on the Schedule A (assuming this is a US based tax question). They should not be placed under the Hope or Lifelong Learning Credit. Although some members here have done this without any issue. http://www.irs.gov/taxtopics/tc513.html
I believe they are not deductible in the US as a “qualified education expense.” I believe the expenses would “qualify” as a miscellaneous itemized deduction as an unreimbursed business expense (but subject to the 2% of AGI floor - the expenses, must exceed 2% of your AGI). Of course, you may lose the deduction if you are an AMT taxpayer. EDIT - ditchdigger beat me to it. Although it is on Sch. A, the expenses are a misc. itemized deduction vs an itemized deduction (and added back to income if the taxpayer is subject to the alt min tax).