Are you allowed to use a computer, bought specifically for school as a tax deduction?

Answer 1

Chances are NO.

Unless you can prove that the computer purchased is a requirement (which I doubt it is, given that just about every school provide some sort of computer lab facility). Buying a computer because it is nice to have is not an eligible education expense and therefore doesn't qualify for education credits (Hope and Lifetime Learning) or Tuition and Fees deduction.

You might be able to get away with the Schedule A - 2% floor deduction (as described in the previous answer). Unless you have other deductible items, you probably wouldn't benefit from itemizing.

Best wishes.

Answer 2

This is the reply that I posted previously when someone asked the same question (I'm lazy and didn't want to retype it).....

Education expenses are normally deducted as a miscellaneous itemized deduction subject to 2% of your adjusted gross income (you can only deduct the amount in excess of 2%). However, the education expense has to be related to your current job, either as a requirement of your job, or to enable you to advance in your current position. Education expenses are normally NOT deductible if it is related to finding a new job, and in your case, education towards a "first" job. Therefore, in your situation, you wouldn't be able to claim your laptop computer as a deduction.

However, there are the education credits such as the Hope Credit and/or the Lifetime Learning Credit. This is a credit that you can claim for education expenses such as tuition, books, etc. There are limits as to the amount of the credit, which would typically be used up just from claiming tuition, so applying the laptop computer towards your education expenses for these credits most likely wouldn't benefit you at all.

Answer 3

The computer has to be related to earning of income. If your job required you to go to school, then the expense if not reimburse by your job is a justifiable deduction. (IRS) will be keeping a close look at this deduction.



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Answer 4

I believe you may be able to consider that an educational expense.

Answer 5

Yes you can and any of your loans that you got through out the year and paid for. Visit www.shaydzofluv.com for a free estimate

Answer 6

www.irs.gov

for all instructions, and forms

and use their : search section for your answers.

GOD bless