Tag Archive for 2010 tax return

Buy your kid a computer, and save on your tax return

recovery-dot-gov-actHere’s some great news for anyone who wants to cut the costs of sending their kids to college!

Under the new American Recovery and Reinvestment Act of 2009, taxpayers who buy PCs for their children in 2009 and 2010 can claim those Desktops, Notebooks, and Netbooks as qualified higher education expenses.

The Act defines computer-related qualified expenses as “any expense incurred for buying any computer technology and equipment”, as well as Internet access and related services as long as the equipment and technology is used by the student and the student’s family during any of the years the student is enrolled at an eligible educational institution.

1040aAnyone with college-aged kids knows that tuition costs are skyrocketing, so this additional perk will be a welcome benefit for many. Be aware that this tax break is only in effect through 2010, so anyone who will have, or has, children in college need to start shopping for a new PC today.

This post is not to be construed as tax advice, so please consult your tax professional for more info. Applicable to U.S. Tax Filers only.

Need some ideas for new computers for the kids? Take a look at our recommendations in our previous post.

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