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IDOR News & Updates - August 31, 2021 |
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Eligible Back-to-School Expenses Could Yield Tax Benefits
With back-to-school time upon us, you may be able to claim school expenses for your K-12 students on your 2021 Illinois individual income tax returns.
Qualified educational expenses include:
- tuition,
- book and lab fees in excess of $250 paid to the school where the student is enrolled on a full-time basis, and
- for home schooled students - book rental, and lab fees greater than $250 are eligible when attending a qualified home school program.
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Illinois Education Expense Credit
The Illinois Education Expense Credit allows parents or legal guardians of a full-time K-12 student under the age of 21 to take a 25% tax credit on qualified education expenses over $250. The total credit may not exceed $750 for tax years ending on or after December 31, 2017, regardless of the number of qualifying students.
For more information...
To learn more about the Illinois Education Expense Credit, please read IDOR Publication 132 and Publication 119 (for home schooled students) located at tax.illinois.gov.
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