2007-01-29 05:29:52 · 4 answers · asked by James M 1 in Business & Finance ➔ Taxes ➔ United States
You cannot deduct it on your 2006 return, but if you did not deduct it on your 2005, You could amend that return in order to get a credit for your 06 return, thus not totally losing out on the deduction
2007-01-29 06:05:09 · answer #1 · answered by jd07987 1 · 1⤊ 0⤋
Your credit card company "paid" the tuition to the school in 2005, so deduct it in 2005...even if you didn't pay the credit card until later.
2007-01-29 13:59:23 · answer #2 · answered by Wendy T 2 · 0⤊ 0⤋
No. The bill is considered paid in 2005.
2007-01-29 13:58:20 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Any expense that you put on a credit card is considered "paid" at the time you charged it to the card, not when you actually paid off the credit card bill.
2007-01-29 15:30:33 · answer #4 · answered by Judy 7 · 0⤊ 0⤋