anyone know?
how much, i can claim $600.00 right now without showing recipts, so makes me wonder what is the max?
2007-03-28 12:34:30 · 3 answers · asked by ktlove 4 in Business & Finance ➔ Taxes ➔ United States
You need receipts to prove any deduction on the Federal Tax return, regardless if it is for school or business. You must be able to prove the deduction with receipts.
2007-03-28 13:05:01 · answer #1 · answered by stuart 3 · 1⤊ 1⤋
I'm not following your question. What $600 limit are you referring to? There are a few ways to reduce your taxes related to education: student loan interest (page one of the Form 1040), Hope Credit and Lifetime Learning Credit (page 2 of Form 1040) and a tuition deduction (page one of the 1040). Could you provide a bit more information regarding your situation?
2007-03-28 12:54:14 · answer #2 · answered by SuzeY 5 · 1⤊ 1⤋
How do you figure you can claim $600? If the IRS asks for proof, you'd have to prove it from the first dollar.
Claim just what you have proof for. You should have gotten a form from your school showing the amount of tuition and fees you paid. That's what you can claim.
2007-03-28 14:49:17 · answer #3 · answered by Judy 7 · 1⤊ 1⤋