tax credit college students?

There are two places that this may be claimed (obviously not both).

(1) Educator expenses (Line 23 of the 1040).

(2) Tuition and fees deduction. (Live 34 of the 1040).

(1) You can deduct up to $250 ($500 if married filing jointly) for qualified educator expenses. So when you purchase a computer, $250 can be used against your income to reduce your taxes. However, there is one catch: you must be an "educator." Basically, you have to teach for it to be eligible.

http://www.irs.gov/pub/irs-pdf/i1040.pdf

(2) Computers are generally not qualifying expenses for the American opportunity credit, Hope credit, lifetime learning credit or the tuition and fees deduction. To make it qualify, you must pay the institution directly for the computer. In other words, you can't pay tiger direct. You have to pay the university.

http://www.irs.gov/pub/irs-pdf/f8917.pdf

Hope this helps! BEST OF LUCK!

No, they're qualifying expenses for 529 plans which means if you or your parents have a 529 savings plan for you for college expenses, you could buy one with money from your 529 plan without paying a penalty. A desktop OR laptop isn't an eligible expense for an education credit.

See irs publication 970.

The 529 plans now count computers as a qualified expense.

ESA plans now count computers as a qualified expense.

These are tax deferred savings plans, not credits.