Is it correct that the Lifetime Learning Credit and the Tuition & Fees Deduction can't be used for books/supplies that can be purchased anywhere? If so, then where can I deduct the books/supplies that I purchased at a non-University book store?
I've already used the American Opportunity Credit for 4-years, so I can no longer use it.
Am I out of options for deducting the books/supplies I purchased at a non-University book store?
According to the IRS, no, they must be purchased as a requirement, from the school. The reason being that books would not normally be deductible, but since the college itself is requiring you to buy it from the school, it now would be.
OVERVIEW
You can deduct qualifying expenses paid in the tax year for:
Qualifying expenses include what you pay in tuition and mandatory enrollment fees to attend any accredited public or private institution above the high school level.
You cannot take a deduction for:
According to the IRS, no, they must be purchased as a requirement, from the school. The reason being that books would not normally be deductible, but since the college itself is requiring you to buy it from the school, it now would be.
OVERVIEW
You can deduct qualifying expenses paid in the tax year for:
Qualifying expenses include what you pay in tuition and mandatory enrollment fees to attend any accredited public or private institution above the high school level.
You cannot take a deduction for: