Are seat deposits tax-deductible education expenses? Forum

[rinkrat19]

Doing my taxes... I deferred a year, so I've already paid $1500 in seat deposits in 2011, for fall 2012. They'll be applied to my first term's tuition, but NU already has the money. Do I put them down as a tuition expense this year, or with the total tuition amount next year?

[20130312]

Yes, they go in your 2011 taxes as a tax deductible expense. But don't forget next year when you do your taxes that you already took credit for this money.

[rinkrat19]

Thanks. That's kind of what I thought, but was a little iffy.

[rinkrat19]

Hmm, here's what Turbotax says:

If you paid education expenses in 2011 but started a program in January, February or March of 2012, you may still qualify for an education credit on your 2011 return.

Go ahead and check the box that applies to your situation if you:

- Started a program in the first 3 months of 2012; and
- Paid education expenses in 2011

So apparentl, it doesn't count because I'm not enrolled yet. I'll just make sure to count the $1500 with the rest of it next year.