If you are a teacher, student aid, counselor or any other educator your financial contributions to students in the classroom can be rewarded.
We know teachers are always making personal sacrifices to ensure that their students succeed in the classroom. One of the most common ways teachers do this is by purchasing back to school supplies. What’s great is that the Tax Code recognizes your contribution and has allowed for an education expense deduction. Educators can now deduct up to two hundred and fifty dollars ($250.00) in unreimbursed school expenses on their tax return. Here are some of the rules you need to know in order to benefit.
What Expenses Qualify:
In order to qualify for this deduction your expense items must be one or more of the following: books, school supplies, computer equipment and software, athletic equipment, or items appropriate for and helpful to the students and the classroom.
Am I Eligible:
To be eligible for these deductions you must have worked as a teacher, student aid, counselor, or instructor for students in grades K-12. In addition, you have to have worked at least 900 hours at a school providing elementary or secondary education that is certified by the state.
Claim it :
Under the United States Tax Code, some deductions are allowed or disallowed depending on whether a person itemizes or claims the standard deduction. In this case, it does not matter! This deduction can be claimed whether you itemize or use the standard deduction. So while your are doing good assisting students from underserved communities who may not have the class room resources available to succeed go ahead and claim your deduction.
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