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Posted by Drew Edmundson on January 19, 2007, 12:42 am
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> I think this requirement refers to a situation like when you
> register for CFP classes taught through the College for
> Financial Planning in Denver. You pay your fee to the school
> and they send you the books for that class. You cannot buy
> the books through any bookstore, nor would you want to buy
> them used since the information changes from year to year.
I agree with Linda. This is not referring to the typical
textbook. Form 8863 instructions say, in part, "Qualified
education expenses do not include amounts paid for:
Course-related books, supplies, equipment, and nonacademic
activities, except for fees required to be paid to the
institution as a condition of enrollment or attendance."
Reg. 1.25A-2(d)(2)(ii) says:
"(ii) Books, supplies, and equipment.
Qualified tuition and related expenses include fees for
books, supplies, and equipment used in a course of study
only if the fees must be paid to the eligible educational
institution for the enrollment or attendance of the student
at the institution."
Note the word "must." AFAIK most colleges and universities
allow you to purchase your books from any source. Amazon
has an extensive collections and there are a number of web
sites offering used texts. The schools prefer you buy from
their bookstore but I am not aware of any that mandate that
you buy from them.
--
Drew Edmundson, CPA
Cary, NC
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