You'll need to sign in or create an account to connect with an expert.
No. Only materials required for the class are deductible.
See IRS Pub 570 page 14
https://www.irs.gov/pub/irs-pdf/p970.pdf
Related expenses.
Student activity fees are included in qualified education expenses only if the fees must be paid to the institution as a condition of enrollment or attend-ance.However, expenses for books, supplies, and equip-ment needed for a course of study are included in quali-fied education expenses whether or not the materials are purchased from the educational institution.
No. You cannot claim parking passes, meal plans and mileage as education expenses.
Please read this IRS document for more information.
For the American Opportunity Credit
Expenses for tuition, books, supplies, and equipment needed for a course of study are included in qualified education expenses. The parking, meals and mileage do not qualify.
That is correct for the education credit or deduction or the savings bond interest exclusion. Supplies are restricted to "required" materials.
However, meal plans, room & board are qualified expenses for a 529/ESA withdrawal. But not parking passes and mileage.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
adraa333
New Member
BluDotLuv
New Member
harborhits1
Returning Member
TXcrude
Level 2
bbsmd100
New Member