The whole story is this. I have a Pentium II 500Mhz laptop with 128 MB Ram that I have been using for the past two years to limp through my classes. I am thinking of purchasing a new computer but would like to know if it is tax deductible. The degree I am taking courses is completely online so the computer a computer is needed to complete the degree.
Thanks
2007-06-04 04:45:26 · 7 answers · asked by blackeyedpeabrain 1 in Business & Finance ➔ Taxes ➔ United States
no
2007-06-04 04:48:41 · answer #1 · answered by scottw2100 2 · 1⤊ 0⤋
If you have a student loan, you could purchase your equipment with this money and later deduct the interest, but not the principal.
If you are employed, and your employer has education benefits, those benefits could be used to purchase a computer tax-free.
If your education is work-related (you are currently working in your field of study, and your course of study is improving your work skills rather than qualifying you for work), then your equipment can be deducted as an unreimbursed employee expense on Schedule A, or can be deducted in full on Schedule C using Section 179. This assumes the computer is used 100% for your courses.
2007-06-04 06:03:34 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋
No, unless you are required to buy the particular laptop FROM THE SCHOOL as a condition of registering for or attending the classes, it's not deductible. The fact that "a computer" is needed to complete the courses doesn't affect the answer. It's not deductible.
You can probably take education credits for your tuition and fees.
2007-06-04 07:06:34 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Sorry, but that's not deductible as an educational expense.
The only exception is if the laptop is required by the school as part of the curriculum AND you are requried to purchase the laptop from the school's bookstore. Most states have laws banning that practice so it's not likely that this would apply to you.
2007-06-04 04:55:23 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 1⤋
I deduct the computer equipment I use for my jobs
2007-06-04 04:53:13 · answer #5 · answered by kevrigger 5 · 0⤊ 2⤋
If you are a student the answer is no.
2007-06-04 04:55:07 · answer #6 · answered by ? 6 · 0⤊ 0⤋
I believe it is but just to be sure ask your tax accountant he would definitely know.
2007-06-04 04:55:50 · answer #7 · answered by the_alchemist13 1 · 0⤊ 3⤋