Hi, online it says I should be able to get a tax break on the computer I bought for graduate school that I use exclusively for school and TA work. how do i do that?
Hi, online it says I should be able to get a tax break on the computer I bought for graduate school that I use exclusively for school and TA work. how do i do that?
While you are entering your 1099-T, there will be a spot for books and other qualified expenses. That is where you will enter the amount spent on the required device. See that link for more information.
A computer is a qualified expense, for undergrads, but not for grad students.
Technically, A computer is a qualified expense, for the American Opportunity credit (AOC), but not the Lifetime Learning Credit (LLC). Grad students are not eligible for the AOC, but are eligible for the LLC. One exception: if 2022 was the year you finished your undergrad degree and started grad school, you can claim the AOC.