Mar. 6th, 2006
IRS & textbooks part II - from an IRS rep
Mar. 6th, 2006 05:04 pmI just got off the line with IRS and they explained this issue in clear terms. We can claim one of three types of credits - Itemized tuition & fees or Hope or Lifetime Learning credit. You can only claim the latter two if you have a tax liability.
So, if you claim Hope you can't also deduct books or other fees. That's what they call double dipping and is illegal.
Hope this helps. :o)
So, if you claim Hope you can't also deduct books or other fees. That's what they call double dipping and is illegal.
Hope this helps. :o)