First time job seekers, such as high school and college graduates, may deduct moving expenses. You must move from a former principal home to a new principal home.

Interest expenses of up to $1,000 paid after December 31, 1997 on qualified student loans may be deducted from your income in determining your adjusted gross income.

Beginning in 1998, new tax credits for eligible higher education expenses are available as part of the taxpayer relief act of 1997.

It's possible to maximize an education deduction by carefully limiting preemployment education to minimum job requirements. Courses taken after employment is secured may then be deductible as maintaining or improving skills.

You may be able to deduct expenses incurred in gaining a specialty within a trade or business if the expenses are delayed until after you have been established in the trade or business.

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Last modified February 26, 1999