Illinois Parents Can Get Tax Credits For Some School Expenses
The Illinois Department of Revenue announced that you may be able to claim expenses on your tax return this year.
This potential tax credit covers K-12 students and would apply to you 2018 Illinois individual income tax return, according to wifr.com.
While detailed info is available now at Illinois Revenue's website, here are some key points to this tax credit:
- Parents can take a 25 percent tax credit for full-time students with qualified expenses.
- Qualified costs include tuition and book and lab fees exceeding $500 that were paid to the school of a full-time student.
- Tuition, book and lab fees exceeding $250 are eligible for students in qualified home school programs.
- Total credits can't exceed $750 for tax years on or after Dec. 31, 2017.
If you're raising a teenage girl like myself, don't you wish we could write off all the money we spent on school clothes?
For all things Illinois Department of Revenue, click here.