Education Expenses
I've read Pub 970, so I think the answer is "No", but sometimes not everything is in the pubs....
Therefore, I am asking if anyone knows of a way to use expenses for uniforms for school and/or purchasing a computer as a deduction or credit for a college student?
zahid
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“Your time is limited, so don't waste it living someone else's life."
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The only thing I'm aware of is a provision in the stimulus bill that includes computers as a qualified expense for 529 distributions in 2009-10.
Yeah thats what I thought too, I talked about that provision in my blog post "Individual Incentives in The American Recovery and Reinvestment Act of 2009"
Thanks Kate
zahid
Google Plus: +Zahid Lilani | Twitter: @ZahidLilani
“Your time is limited, so don't waste it living someone else's life."
- Steve Jobs
IRS Circular 230 notice: In order to comply with requirements imposed by the IRS, I must inform you that any tax advice contained on this forum is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.
Education is one of the basic need and it should always have a budget especially in college where students are choosing their career.Uniforms,computers and other more things are part of the education expenses.
Hi,
Just found this forum today while looking for a recommendation for a CTEC course provider.
With regard to your question, assuming you manage your investments online, you can deduct part of the cost of the computer used to manage those investments (IRS Pub 529 - Miscellaneous Investments).
It does have the 2% income limit to be able to use the deduction, and you can probably not deduct all of it (since not all of it is used for investments), but I would suppose that once you have a savings account that you check online, it qualifies.
I'm no expert though...
- Ron
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