Ask TaxMama ... Graduate School ... March 15, 2003

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Published by Eva Rosenberg, MBA, EA


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Graduate School

» From: Pelham, NY

Dear TaxMama:

First off, I'd like to say your site is amazing. I'm so glad I found it.

Now my question is regarding education credits. I just started graduate school in 2002 and am wondering how much I can actually claim.

Textbooks and tuition I know. But I can I claim notebooks and supplies or mileage to and from school? And where would I claim these expenses? Do they go into the Hope section or elsewhere.

Thank you for your time!

Michelle

Dear Michelle,

Thanks so much for the kind words.

Congratulations on starting graduate school. Fun, isn't it?

Yes, you may include educational supplies. But, sorry, not the mileage. (See: Publication 970, Tax Benefits for Education)

You qualify for the Lifetime Credit.

And, believe it or not, there really is no form. You'll use a worksheet in the tax booklet to compute your credit.

The credit will go on the second page of your tax return, right after the total taxes.

There's a lot of detail in IRS's Publication 970

I hope this gets you on the right track.

Best wishes,

Eva Rosenberg
Your TaxMama

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