It depends. If you were a full-time college student for the year in which you incurred the expenses, you may be able to use the cost of the computer and monitor for purposes of the American Opportunity Tax Credit if you need the computer for attendance at the educational institution. You can't directly deduct these costs from your taxes. Educators can deduct up to $300 of qualifying education expenses on their returns.
An eligible student for the AOTC:
- Was enrolled at least half-time in a program leading toward a degree, certificate or other recognized educational credential for at least 1 academic period during the tax year
- Hasn’t completed the first 4 years of post-secondary (education after high school) at the beginning of the tax year
- Hasn’t claimed (or someone else hasn’t claimed) AOTC for the student for more than 4 years
- Wasn’t convicted of a federal or state felony drug offense at the end of the tax year
Please see this IRS webpage and this TurboTax article for more information.
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