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Posted by SMF on January 16, 2007, 3:15 am
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I saw a footnote under the Hope Credit and LLC that said
books "as a condition of enrollment" could be included with
tuition to calculate credits. What on earth? How would we
know if the teacher required the book and didn't just
suggest...etc... ? Thanks
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Posted by Bill Brown on January 16, 2007, 7:01 pm
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SMF wrote:
> I saw a footnote under the Hope Credit and LLC that said
> books "as a condition of enrollment" could be included with
> tuition to calculate credits. What on earth? How would we
> know if the teacher required the book and didn't just
> suggest...etc... ? Thanks
The teacher requiring the book does not make buying the book
a condition of enrollment. The institution requiring that
you buy, and pay for the books, before enrolling is a
condition of enrollment.
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Don Priebe on January 16, 2007, 7:02 pm
Please log in for more thread options > I saw a footnote under the Hope Credit and LLC that said
> books "as a condition of enrollment" could be included with
> tuition to calculate credits. What on earth? How would we
> know if the teacher required the book and didn't just
> suggest...etc... ? Thanks
It's not even that simple. Even if the book were required
for the course, it's not includible for Hope/LL Credit
unless you were required to buy it <from the school> as a
condition of enrollment. If you can get it from the
bookstore or e-bay or used from a previous student it
doesn't count. Lab workbooks come to mind as potentially
includible.
--
Don EA in Upstate NY
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by Shyster1040 on January 16, 2007, 7:02 pm
Please log in for more thread options Did your course curriculum list "required books" or not? If
it did, then those books are required as a condition of
enrollment; if not, then they are not.
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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Posted by pleasedontemailme on January 16, 2007, 7:02 pm
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> I saw a footnote under the Hope Credit and LLC that said
> books "as a condition of enrollment" could be included with
> tuition to calculate credits. What on earth? How would we
> know if the teacher required the book and didn't just
> suggest...etc... ? Thanks
IRS training material (for VITA volunteers) when these
credits were first available went into this in greater
depth. At that time, the IRS was instructing us that you
could only claim books if the student paid the school
directly as part of a tuition and fee bill and not if the
student purchased at a bookstore. For example, if you were
taking a chemistry lab and the lab book was included in the
fee and issued to the student on the first day of class.
Training material in later years has not included this level
of detail and I've heard a wide range of contradictory
instructions on this topic from the IRS.
-Crystal
<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>
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