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Old 04-26-2007, 08:55 AM   #1
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Default School supplies, tax write off question?

I know you can tax write off gas that you purchase to go to school but can you tax write off school supplies you buy from lets say office depot?
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Old 04-26-2007, 08:56 AM   #2
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Default Re: School supplies, tax write off question? (Lookincrazy)

yes.
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Old 04-26-2007, 08:59 AM   #3
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Default Re: School supplies, tax write off question? (Rednas)

What if you get audited, and you don't keep your receipts for school?
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Old 04-26-2007, 09:00 AM   #4
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Default Re: School supplies, tax write off question? (Ninja 6)

Quote:
Originally Posted by Ninja 6
What if you get audited, and you don't keep your receipts for school?
well you gotta show receipts come tax time...so your gonna have to keep them.
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Old 04-26-2007, 09:02 AM   #5
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Default Re: School supplies, tax write off question? (Ninja 6)

Quote:
Originally Posted by Ninja 6
What if you get audited, and you don't keep your receipts for school?
thats the reason i dont write off anything. Click the image to open in full size.
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Old 04-26-2007, 09:04 AM   #6
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Default Re: School supplies, tax write off question? (Rednas)

Seriously man, who keeps receipts for things that cost around $10.00, and you saw that the transaction went through without a hitch?

I know it's little and it adds up, but still.

I was tempted to write off what i thought I spent for supplies, but that ish can't be proven if i were audited. Click the image to open in full size.
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Old 04-26-2007, 09:16 AM   #7
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Default Re: School supplies, tax write off question? (Ninja 6)

Quote:
Originally Posted by Ninja 6
Seriously man, who keeps receipts for things that cost around $10.00, and you saw that the transaction went through without a hitch?

I know it's little and it adds up, but still.

I was tempted to write off what i thought I spent for supplies, but that ish can't be proven if i were audited. Click the image to open in full size.
thats why you keep all receipts in a secluded place like in an envelope and make copies as well and stash somewhere else just in case.
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Old 04-26-2007, 09:18 AM   #8
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Default Re: School supplies, tax write off question? (Lookincrazy)

i already got $50 worth of gas receipts so far and its april. wait until school starts and school supplies come in.
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Old 04-26-2007, 09:34 AM   #9
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Default Re: School supplies, tax write off question? (Lookincrazy)

?
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Old 04-26-2007, 09:40 AM   #10
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Default Re: School supplies, tax write off question? (Lookincrazy)

Quote:
Originally Posted by Lookincrazy

thats why you keep all receipts in a secluded place like in an envelope and make copies as well and stash somewhere else just in case.
Damet, I'm going to start saving all my receipts from now on. Click the image to open in full size.
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Old 04-26-2007, 09:45 AM   #11
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Default Re: School supplies, tax write off question? (Lookincrazy)

I don't know where you heard that you can write off gas that you bought to go to college:

Straight from taxcut2006, regarding college expenses:

Qualifying tuition expenses must be:

Expenses for tuition and fees required for enrollment.
Paid directly to the school.
Paid in 2006.
For an academic period beginning in 2006 or the first three months of 2007.

In addition, these expenses are not considered qualifying tuition expenses:

Room and board, even if required for enrollment.
Insurance, medical, transportation, or similar personal, living or family expenses, even if required for enrollment.
Amounts paid for books, supplies, equipment, or nonacademic activities, except for fees required to be paid to the school as a condition of enrollment.
Amounts paid for courses involving sports, games, or hobbies, or any noncredit course, unless the course is part of the student's degree program or (only for the Lifetime Learning Credit) helps the student acquire or improve job skills.
Amounts paid with employer-qualified educational assistance.
Amounts paid with funds from a tax-exempt scholarship, 529 plan, or Coverdell ESA.
College application fees.
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Old 04-26-2007, 09:48 AM   #12
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Default Re: School supplies, tax write off question? (smithenhiven)

Quote:
Originally Posted by smithenhiven
I don't know where you heard that you can write off gas that you bought to go to college:

Straight from taxcut2006, regarding college expenses:

Qualifying tuition expenses must be:

Expenses for tuition and fees required for enrollment.
Paid directly to the school.
Paid in 2006.
For an academic period beginning in 2006 or the first three months of 2007.

In addition, these expenses are not considered qualifying tuition expenses:

Room and board, even if required for enrollment.
Insurance, medical, transportation, or similar personal, living or family expenses, even if required for enrollment.
Amounts paid for books, supplies, equipment, or nonacademic activities, except for fees required to be paid to the school as a condition of enrollment.
Amounts paid for courses involving sports, games, or hobbies, or any noncredit course, unless the course is part of the student's degree program or (only for the Lifetime Learning Credit) helps the student acquire or improve job skills.
Amounts paid with employer-qualified educational assistance.
Amounts paid with funds from a tax-exempt scholarship, 529 plan, or Coverdell ESA.
College application fees.
so gas dosen't count but school supplies do?
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Old 04-26-2007, 09:48 AM   #13
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Default Re: School supplies, tax write off question? (smithenhiven)

I don't remember what the words were exactly, but while turbotax I remember that it was perfectly legitimate to write off gas, supplies, books, or any mandatory fee paid that are imperative(sp?) to be enrolled in school and have a required means of finishing the class?

Turbo Tax>Taxcut I guess?
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Old 04-26-2007, 09:49 AM   #14
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Default Re: School supplies, tax write off question? (Ninja 6)

Quote:
Originally Posted by Ninja 6
I don't remember what the words were exactly, but while turbotax I remember that it was perfectly legitimate to write off gas, supplies, books, or any mandatory fee paid that are imperative(sp?) to be enrolled in school and have a required means of finishing the class?

Turbo Tax>Taxcut I guess?
Hmm, interesting. I guess Turbo Tax is > Taxcut.

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Old 04-26-2007, 10:18 AM   #15
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Default Re: School supplies, tax write off question? (Lookincrazy)

ya so gas and supplies is a go.
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