Intern Year (PGY1) Tax Benefits

The tax year that you graduate medical school (I.e 2018), as a newly minted intern there are a variety of tax benefits one should be aware of. Most of these stem from the fact that you will have only earned income for half a tax year (July-December) and therefore will be placed solely in a lower tax bracket than the subsequent years of residency.

1. Lifetime Learning Credit- this $2000 credit is the most important tax benefit you can claim as an intern. Assuming you paid tuition during your last year of medical school, they will provide you with a …