What educational purchases can I write off on my taxes?
I am a college student in Louisiana, and I was wanting to know what educational expenses I can write off on my taxes. I bought a $1500 laptop this year, and I have proof that I am required to have it for my computer science major. Also, I have receipts from textbooks I have purchased this year that total up to about $500. Can I write these things off on my taxes?
What is your proof? did they tell you exactly what laptop to buy? Could you only buy it from them? If you didn’t buy it could you still attend class?
The IRS generally doesn’t allow deductions for laptops or textbooks.
You would not be able to get a tax benefit for any of those items.
Students receive tax benefits by claiming either the tuition deduction or one of the education credits. You are permitted to claim whichever gives you the most tax savings, although you cannot claim both. Both the deduction and the credit are computed using “qualified educational expenses.”
Qualified educational expenses do not include books, computers, or other supplies. An exception is if those items must be purchased from the school as a condition of enrollment, but that is rare.
Sorry, but educational write offs only apply AFTER you are employed and need to do continuing education to maintain your employment or prepare for a follow on role.
If you are a student, (even with a part time job) you are not eligible to claim educational expense deductions.