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can I deduct tuition fee, books, supplies for my education using standard deduction?

2007-02-06 09:06:27 · 2 answers · asked by Anwar H 1 in Business & Finance Taxes United States

2 answers

You may take a credit for tuition and fees and still use the standard deduction. Books and supplies are not eligible unless you are required to purchase them FROM THE SCHOOL as a condition of enrolling for or attending the course - buying them from the school bookstore doesn't count.

You would use form 8863 for either the Hope or Lifetime Learning credit. The Hope Credit usually gives you more, but can only be used for your first two years of post-secondary school.

2007-02-06 09:13:17 · answer #1 · answered by Judy 7 · 0 1

If you meet all the qualifications to claim the Tuition and Fees deduction you would be able to take a reduction of your income on your 1040 for tax year 2006. This is separate from the standard deduction

Publication 970
http://www.irs.gov/publications/p970/index.html
http://www.irs.gov/taxtopics/tc457.html

2007-02-06 09:13:06 · answer #2 · answered by Anonymous · 1 0

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