Could Saving Your Gas Receipts For College Commuting Be Eligible For A Tax Deduction?
I am a full time college student, living off of campus & commuting about 35-40 min to school everyday. Someone told me that I should be saving my gas receipts to use on my taxes when I fill out the student information, is this correct??
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Filed under Gas Conservation FAQ by on Feb 17th, 2010. Comment.
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Comments on Could Saving Your Gas Receipts For College Commuting Be Eligible For A Tax Deduction?
Uh, no, not deductible. Commuting to work isn’t deductible either. The “someone” who told you that doesn’t know what they are talking about
Your transportation expenses for education would be deductible as a business expense if they were related to your current work. If your education is not work-related, no deduction for transportation is possible.
However, if you have student loans, you can use proceeds of the loans for transportation, and that part of the loan is qualified for the student loan interest deduction when you start to pay back the loan.
No not quite. Gas receipts wont prove anything. If you were audited you could not prove those receipts were for school or the grocery store. Dont bother saving them. If you qualified a log is best.
Business deduction for work-related education. If you drive your car to and from school and quality to deduct transportation expenses, the amount you can deduct for miles driven during 2007 is 481/2 cents
Expenses That Do Not Qualify
Qualified education expenses do not include amounts paid for:
• Transportation,
No it is not tax deductible.
Commuting miles are not deductible even for employees, independent contractors or self employed persons.
I actually have written on article on great ways to save gas. They are small things that everyone can do that add up!http://www.ehow.com/how_4528551_save-gas…