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andreww
Level 1

How do I categorize online educational expenses?

I have some expenses paid by my credit cards that I enrolled some online educational courses, like Linkedin Learning, Duolingo, etc. I'm wondering how should I properly categorize these subscription costs?

 

I'm also wondering, for the accounting purpose, would these expenses deductible under "American Opportunity Tax Credit" or "Lifetime Learning Tax Credit"? Thanks.

1 Comment 1
Rustler
Level 15

How do I categorize online educational expenses?

create an expense account, use the detail type of other expenses and name it educational expense. Use that account

 

Tax credits are something you need to discuss with a tax accountant

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