|
|
Dear Friends,
It’s hard to believe it is already back-to-school season! Remember to save your receipts on school supply purchases to claim valuable K-12 tax benefits when filing your taxes next year. Two tax benefits can help families pay for education-related expenses: the refundable K-12 Education Credit (income limits apply) and the K-12 Education Subtraction (no income limits).
Most expenses for educational instruction or materials qualify, including:
- Paper
- Pens and notebooks
- Textbooks
- Rental or purchases of educational equipment such as musical instruments
- Computer hardware (hotspots, modems, and routers) and educational software (up to $200 for the subtraction and $200 for the credit) *
- After-school tutoring and educational summer camps taught by a qualified instructor
*Taxpayers who are not required to file an income tax return must do so in order to claim a refund for any eligible education credit.
In order to qualify for the K-12 Education Credit, families are subject to income limits:
Household Income for the K-12 Education Credit
| Number of qualifying children in K-12 |
Household income must be less than |
| 1 or 2 |
$76,000 |
| 3 |
$79,000 |
| More than 3 |
$79,000 plus $3,000 for each additional child |
There are no income limits to qualify for the education subtraction. Most parents qualify. Parents can claim the K-12 Subtraction for tuition paid to private schools or college courses used to satisfy high school graduation requirements.
To learn more about the K-12 Education Credit and Subtraction, check out this helpful video.
|
|
Please Contact Me
Even though we’re out of session, I encourage you to please contact me with any questions or input by phone at 651-296-4231 or by email at rep.peggy.scott@house.mn.
|
|
 |
|
/RepPeggyScott
|
|
335 State Office Building
100 Rev. Dr. Martin Luther King Jr. Blvd.
Saint Paul, MN 55155
ph. 651.296.4231 |
|
|
|
