Tax Deductible School Fees
August 30th, 2008
Question: I thought textbooks were tax deductible, however the TaxCut proam says that it is not. What to do?
This is what the Taxcut Software says:
In addition, these expenses are not considered qualifying tuition expenses:
Amounts paid for books, supplies, equipment, or nonacademic activities, except for fees required to be paid to the school as a condition of enrollment
This is straight from the software. Is there somewhere else I should be deducting textbooks? Those things are expensive, and would love to deduct them!
Were they deductible at any point? I seem to remember a time when I was asked how much I spent on textbooks and was able to add them to my deductions.
Answer: Textbooks are NOT deductable.
From publication 970:
Example 2.
Donna and Charles, both first-year students at College W, are required to have certain books and other reading materials to use in their mandatory first-year classes. The college has no policy about how students should obtain these materials, but any student who purchases them from College W’s bookstore will receive a bill directly from the college. Charles bought his books from a friend, so what he paid for them is not a qualified education expense. Donna bought hers at College W’s bookstore. Although Donna paid College W directly for her first-year books and materials, her payment is not a qualified expense because the books and materials are not required to be purchased from College W for enrollment or attendance at the institution.
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