Can you claim the money you paid for training on your income tax?

You should be able to deduct schooling when required to get a tax paying job.

 

yes it's deductable so long as you make a serious attempt to use the training.

 

The short answer is maybe.

Not knowing your financial situation it is impossible to say for certain, but here is some information that may help;

The credit that you would qualify for is called the Lifetime Learning Credit;

You can take this deduction for 2011 if you paid tuition during the year (or the first 3 months in 2012) for which you did not receive grants or reimbursement.

The maximum deduction you can take is 20% of the tuition paid with the maximum deduction being $2,000.

CDL Training does qualify according to the IRS' definition (see IRS Publication 970)

If you're single your Modified Adjusted Gross Income (MAGI) cannot exceed $61,000; $122,000 if married filing jointly.

Disclaimer: I am not a tax professional

 

Did you miss this ?
CDL Training does qualify according to the IRS' definition (see IRS Publication 970)

 

I think he expects a dollar to dollar savings on the tax.

 

Yep.

You can take 20% of the first $10,000 spent on tuition (that's where the $2,000 max. comes in).

The school where you took the course should send you a form 1098-T documenting the amount received for tuition.

On the positive side - this isn't a deduction - it is a credit.

A deduction reduces the amount of income subject to tax; while a credit directly reduces the tax itself. So (using a simple example with your $700) if the IRS says, based upon your MAGI that your tax for 2011 is $1,000 - you would knock $700 off that number.

 

If only it were that easy.