From how I read and interpret the IRS definition of qualified expenses, yes, bUT with caveats.
First, if your school doesn't let participate in federal financial aid, no expenses paid to school qualify, ever - period.
Second, a deposit can only count if it will be converted to tuition. Paying a fee just to hold a spot is probably NOT a qualified expense. If only part of your deposit is rolled over into tuition,
You can only count the expenses to the one school you WILL attend. So if you know for certain you will be attending school A in the fall - yes. In order for it to be a qualified expense you must actually enroll in classes there.
What happens if you don't enroll in school A?
That's tax fraud.
I like school A, got into school A but am waiting on interview/admission to B which I like more. Can I still claim my deposit to A?
See previous question. My advice in that situation would be hold off on filing taxes until you know where you are going. 99% of students who matriculation will know where they are going before April 15.
Same scenario as previous question but what if I need my refund to pay bills and I need to file now? File without the credit. You can always pay a fee, amend the filing later, and get additional money later. I don't think there are any rules saying you can't amend later this year and cant get the corrected refund.
But that's just how I interpret it. I am definitely no tax lawyer. You can always call the IRS for guidance....
