As you put the finishing touches on your tax return, you’re probably wondering which of your educational expenditures are tax-deductible. Can you deduct the cost of your new laptop, for example? And what about your textbooks? We scoured the Internet looking for the best source of quick answers to those questions. The best we found was the article “What are Qualified Education Expenses?” on the TurboTax website. Need to know how to get started? Download our free guide on How to Go back to College today! You’ll want to check out this article for yourself. But until you do, here’s a quick summary . There are basically two different ways to deduct college costs. The American Opportunity Credit lets you deduct tuiti ...
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