2007-08-23 07:05:00 · 4 answers · asked by double a 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
You can get an education credit for some of your tuition and fees if you are not a dependent - if you're a dependent of your parents, they would get the credit. Books and computers aren't eligible expenses for education credits unless you are required to purchase them from the school as part of taking the class - some people think they are, and report them and take credits for the amount, but when the IRS catches it, they'll have to pay back the money. Buying them from the school bookstore doesn't change it, or count as being "required to buy" as part of the class..
2007-08-23 10:01:58 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
If you are on your own (not being a dependent of your parents or anyone else) you can claim education expenses, which include tuition and fees. You have to be a student on at least a half-time basis to claim the deduction. If you are in your first two years of college you can claim either the Hope Credit or the tuition and fees deduction, and the Lifetime Learning Credit or tuition and fees deduction for any years beyond the first two. The credits are non-refundable credits though, so to get any money back, you have to have a tax liability to pay, and the credits can't reduce your liability below $0. There are income limits for the credits and the deductions.
2007-08-23 07:13:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes a lot of students are useless wankers but a lot of them also work damn hard at weekends and nights to pay for their education, i don't like paying tax as much as the next man/woman i won't even work overtime on the clock as i can't afford the calories expenditure so i take the basic rate for my job. You can try and get inside the heads of everyone else but it's pointless, life is a never ending apprenticeship we're continually learning all the time and it took me 20 years of self loathing and bitterness to figure that out from when i left school at 16. A buggered knee stomach like a sieve and scars all over my body i would swap that in an instant to get the chance to get drunk on a few pints and stick a cone on my head. Wouldn't you?
2016-05-21 00:39:24 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Yes there is a form for that.
I got reimbursed for a computer and books last year.
2007-08-23 07:14:15 · answer #4 · answered by Desa 3 · 0⤊ 3⤋