More Minnesota families able to take advantage of back-to-school tax benefits
ST. PAUL, Minn. -- More families in Minnesota can save money this back-to-school season if they hold onto their receipts for schools supplies.
There are two different programs families can use to help pay for their child's education: the refundable K-12 education credit, which has income limits, and the K-12 Education Subtraction, which does not have any income limit.
Last year, the Department of Revenue says 17,000 families received an average credit of $280 for the K-12 Education Credit, and more than 134,000 families received an average subtraction of $1,266 for the K-12 Education Subtraction.
The department says over 31,000 families will be able to claim the K-12 tax credit when filing taxes next year due to changes made during the most recent legislative session - that's nearly double the number of families who received a credit last year.
To qualify for the programs, the child must be attending kindergarten through 12th grade at a public, private or qualified home school. For the K-12 Education Credit, there are limits on household income based on the number of qualifying children.
Materials that qualify include paper, pens and notebooks, textbooks, rental or purchases of education equipment like musical instruments, computer hardware and software, and after-school tutoring and educational summer camps taught by a qualified instructor.
Additionally, through the K-12 Education Subtraction, parents are able to claim tuition paid to private schools or college courses used to satisfy high school graduation requirements.
To learn more about the K-12 tax relief programs and if you qualify, click here.