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rpg1963ksg
New Member

Can i deduct college deposit fees

Paid $300 deposit fee to University in December of 2016 for Fall 2017 enrollment.  Is that $300 tax deductible for 2016 returns or 2017 returns?
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nyinyeb
New Member

Can i deduct college deposit fees

Unfortunately, deposit fees  are not deductible-

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4 Replies
nyinyeb
New Member

Can i deduct college deposit fees

Unfortunately, deposit fees  are not deductible-

wcroth55
New Member

Can i deduct college deposit fees

Uh, WRONG!  A deposit against actual college tuition, for example, IS DEDUCTIBLE... within certain time limits.  The IRS clearly states that a deposit (for example) at the end of 2017 can be deducted in 2017 if it is for expenses that will occur in the 1st quarter of 2018.
ChrisJohnDLS
New Member

Can i deduct college deposit fees

What if it does not apply to the first quarter of the next year? For example, I paid a $1200 deposit in December 2021 to begin a Doctoral program in January 2023.

Hal_Al
Level 15

Can i deduct college deposit fees

Q. What if it does not apply to the first quarter of the next year? For example, I paid a $1200 deposit in December 2021 to begin a Doctoral program in January 2023.

A.  That issue hasn't come up before. But I'd say even a liberal reading of the rules says you don't qualify.  The "deposit" will probably be applied to your bill in 2023 and you can claim it then. 

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