Re: Books
Unless you have deductions that total more than the standard deduction, it won't do you any good to hold on to them. If you do have more than the standard deduction, then you can use them.
Re: ?
Being single and earning under $15k, you most likely do not have enough deductions to claim. Deductions are usually mortgage interest, high medical bills, unreimbursed employee expenses and educational expenses, to name a few. These expenses must total more than $4,700 in 2002. This is your standard deduction that the IRS gives you to cover all your deductable expenses.
Expenses
I've heard students at my school claim they list the book expenses in their tax deductions. They do not make much money so how can that be? Are they doing something under the table or.... ?
Re: Expenses
Well, you could try putting it on line #26 on your 1040 return for educational expenses but remember, you are limited to a $3,000 deduction for 2002 and $4,000 for years 2004-2005.
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