Buried deep in conference report for the The 2009 American Recovery and Investment Act, is a goody for anyone attending college this year or next -- a tax write off for computer purchases.
Section 1005 of the bill, found on page 526 of the Conference Report, allows a full tax write-off for college students who purchase computers and computer software in 2009 or 2010.
Veterans might want to hold off on any computer purchase until the start of the fall semester this year when they can use much richer payments from the new GI bill, which goes into effect this August, to buy a computer that comes with a tax write-off.
Gamers be warned -- don't try to buy a souped-up machine or software and try to write it off unless the game software "is predominantly educational in nature."
COMMENTS
I find this interesting that they would make a big deal about tax-free computers for college students, when most students attending college these days likely have them already. Should the focus not be on the rising cost of the actual Education, and reducing the Debt some need to take on to get a degree?
Jason Reeves
Natural Health Consultant
jointjuicereviews
jason reeves 08/25/11 05:51 pm ET
Does this only apply for money spent out of a Section 529 college savings account?
Brian 09/29/09 05:12 pm ET
I am a 56 old man collecting unemployment and at this time returning to school through the Workforce Investment Act. I will study A + computer hardware and Information Technology. I am in desperate need of a laptop computer to assist in my studies as well as to be prepared for any upcoming job offers. Naturally due to very limited and small funds I can not afford to purchase one outright. I know that what I am asking is highly unusual but, I figure that if young students can be given assistance to prepare for the future why not an old man trying to return to an active life and employment. If you could help me or direct me to any one else who might I would be greatly appreciative. Thank you, Lloyd D. Thompson.
Lloyd D. Thompson
1645 W. Le Moyne St.
Chi, Il. 60622-2240.
(lloyddt13@hotmail.com).
(773) 893-3564.
Lloyd Thompson 09/08/09 11:12 am ET
Did anyone ever find this? I had to find the bill because the link above didn't work. but the pages are not numbered and there are only 407 pages. So where's 526?
Doris 04/22/09 01:19 pm ET