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January 31, 2022
Question

Will I be able to deduct books and materials paid with a bookstore advance from the college?

  • January 31, 2022
  • 1 reply
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1 reply

Hal_Al
Employee
February 1, 2022

Typically, "Bookstore advances" are available to students who show a projected credit after all term charges are covered.

So, it depends on what the source of the payments on your account are from.  If tax free scholarships, then no you can not claim a credit based on that money.  If it's from loans or your (or your parent's) out of pocket money, then yes.