Tax return question...?

Question

if i keep all my school tuition/book receipts, can i get that money back at the end of the year?

Answer 1

No you can't. But your school will send you a form showing the tuition and fees (NOT books and other expenses) that you paid, and you can most likely take an education credit that will give you some, but far from all, of that amount back.

Answer 2

You may be eligible for certain education credits or a deduction for tuition paid.

Books and equipment fees are not deductible unless the school requires that they only be purchased from the school. Most states prohibit that practice so it's not likely to apply to you.

Answer 3

You can get a $1500 tax deductible for post-secondary schooling for two years. Look into the Hope Credit.

There is also the Life Time Learning Credit. I'm not sure what the details are for this one.

Here's the FAQ for these two programs from the IRS's website.
http://www.irs.gov/faqs/faq7-4.html

Answer 4

Not unless your education is part of your employment.

Answer 5

Unfortunately, these expenses are not deductible