School supplies eligible for tax credits
Posted on: Aug 19, 2019
Minnesota has two programs to help you pay for your child’s education expenses. The K–12 Education Subtraction and the K–12 Education Credit can lower the tax you pay or increase your refund when filing your Minnesota income tax return.
You may qualify for the K-12 subtraction, the K-12 credit, or both — if you save your receipts. Expenses for most school supplies, field trips, and musical instruments are eligible.
Most parents qualify for the subtraction, which reduces their taxable income. Parents under certain income limits may also qualify for the credit, which can refund up to 75% of their costs.
The documents shown as photos above can be examined more closely here. See how to claim the credit or subtraction on your taxes next year at https://www.revenue.state.mn.us/k-12-education-subtraction-and-credit.