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Question
I'm doing an unpaid internship at a magazine. I write reviews and usually they'll comp me for the products, but sometimes not. Can I write it off if I have to pay out of pocket or no, since the internship is unpaid? I do get college credit if that matters
AI accountant’s answer:
Since you are receiving college credit for your unpaid internship, it may be considered as part of your education expenses. In this case, you might be able to claim certain educational expenses as a tax deduction or credit. However, the cost of products for writing reviews might not qualify as a deductible educational expense. Generally, you can deduct educational expenses like tuition, fees, and required books and supplies if they are necessary for your education. However, other expenses like the cost of products for writing reviews may not be considered necessary for your education and may not qualify for a tax deduction. It's essential to keep detailed records of your expenses to substantiate any deductions or credits you may claim. If you still have questions regarding your particular situation, you should consult a tax professional for personalized advice.
Comment from reviewer
Isaiah McCoy, CPA
Not Correct.
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