SPRINGFIELD, Ill. (WTVO) — Some Illinois parents and teachers can claim some school expenses on their taxes to earn a credit of up to $750.
The Illinois Department of Revenue’s Education Expense Credit allows for parents and educators to claim expenses totaling over $250 for a 25% credit.
- you were the parent or legal guardian of a full-time student who was under the age of 21 at the close of the school year,
- you and your student were Illinois residents when you paid the expenses, and
- your student attended kindergarten through twelfth grade at a public or nonpublic school in Illinois during the tax year.
Expenses include tuition, books, and lab fees, and homeschooling expenses are also eligible.
Educators can qualify the Instructional Materials and Supply Tax Credit. To qualify, taxpayers must be teachers, instructors, counselors, principals, or aides, for at least 900 hours during a school year. The maximum credit is $500, even if two educators are spouses filing jointly.
“Educational expenses can be costly for both parents and educators alike, so I encourage them to take advantage of the valuable savings provided through both the Illinois Education Expense Credit (for parents) and the Instructional Materials and Supply Credit (for teachers),” said IDOR Director David Harris.
The total credit cannot exceed $750, the department said.
Over 192,500 taxpayers claimed the credit last year.
To learn more, click here.