Hi, question about what counts as qualified expenses for the different education tax credits. I believe the following are qualified expenses:
textbooks, including taxes
computer, including taxes (required for the engineering program my son is in)
required software
Is that correct? Also, there are numerous fees - Health Fee, Rec Sports Fee, Library Fee, etc. Are these qualified expenses?
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Tuition textbooks and computer are qualified expenses for American Opportunity Credit.
Most fees, not included in box 1 of the 1098-T, are not qualified expenses for a tuition credit.
Health Fee, Rec Sports Fee, are not. Library Fee probably is, if it is required of all students.
Textbooks, computer, and required software are not qualified for the Lifetime Learning Credit, unless the cost is included in the course fee paid to the school.
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