I go to school full time and work full time and I just tried using my last paystubs and the online worksheet and I calculated my refund at only 300 but I have always had every job with hold 20 from every paycheck to guarantee me that I will get money back every year, but I used student loans to pay my books and tuition what can I deduct?
Nov
30
There are 3 Responses to “Can I use my tuition and books as a tax deduction?”
#2 RUSerious - 01 December, 5:26 PM
If you paid tuition, you should receive a 1098-T which will show the amount you paid for tuition. This will then allow you to claim either a “Hope Credit” or a “Lifetime Credit”. Which credit you use depends on how many times you have claimed a tuition credit.
Books, unless they are included in the tuition, are not deductible nor can you claim a credit for them.
#3 Mary's Oblate - 02 December, 11:12 AM
if you education is related to your job, and your employer does not reimburse you.
Tuition is a deduction but books usually aren’t. Books are deductible if they are required to be purchased from the school. I have never seen this.
You can either tax the “Tuition and Fees” deduction or an education credit (Hope or Lifetime Learning).
Unfortunately, due to the AMT fix, the IRS will not be accepting returns with education credits until mid-February.