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If you’re thinking about going back to school to get a degree, you might be wondering if you can deduct the cost of your computer as a qualified education expense. The answer is maybe.
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What is a Qualified Education Expense?
A qualified education expense is any expense that is incurred in connection with the attendance of a student at an eligible educational institution. The term “eligible educational institution” means any accredited public, nonprofit, or proprietary (private) college, university, vocational school, or other postsecondary institution.
Can a Computer be a Qualified Education Expense?
When it comes to education expenses, it is important to know what can and cannot be deducted on your taxes. Many people are unsure if a computer can be considered a qualified education expense. The answer is, it depends.
If the Computer is Required by the School
The first thing to consider is whether or not the computer is required by the school. If it is, then it will almost always be considered a qualified education expense. This is because the computer is necessary for the student to complete their coursework and without it, they would not be able to properly engage in their studies.
There are a few exceptions to this rule, however. For example, if the school provides each student with a laptop or desktop computer, then a student would not be able to claim a deduction for an additional computer that they purchased on their own. Additionally, if the student only uses the computer for personal purposes and not for school-related work, then they would also not be able to claim a deduction.
If the Computer is Not Required by the School
If the computer is not required by the school, then it is not a qualified education expense, and you cannot claim it on your taxes. This is true even if you use the computer for school-related purposes, such as doing research or writing papers.
Conclusion
After doing some research, we have come to the conclusion that a computer is a qualified education expense. This means that you can use your financial aid money to pay for a computer, as long as it is used for school-related purposes. So if you need a new computer for school, go ahead and get one – your financial aid will cover it!
