Mar. 6th, 2006

funeralcrasher: (Default)
and everything in its place.
funeralcrasher: (Default)
Can I deduct the cost of college textbooks and other school supplies?  If so, where do I do this?

Also, what about books bought to learn things for work?
funeralcrasher: (Default)
I 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)

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