We all know the application process is taxing...

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Carmen Sandiego

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...but does anyone have any idea how it might work out in terms of being tax-deductible?

I figure I've spent a huge chunk of change on applying and traveling to schools this year, and my friend suggested to me yesterday that I might be able to at least take some of it back from the IRS. I know many of you don't do your own taxes, but to those knowledgeable ones who do:

1) Is traveling/applying to school a legitimate deductible?
2) How much would you need to spend before it'd be worth to do itemized deductions instead of the standard deduction?

Thanks.

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Unfortunately I don't think it is. Most of the education-related deductions have to be from money actually paid directly to a school for tuition. As for #2, I'd recommend using one of the online tools (a lot of sites have free versions) and it'll compare the standard vs. itemized for you.
 
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