Shopping For School Supplies - Take Credit For Learning!
Save your receipts and SAVE MONEY on your state tax return.
Depending on your income, you may be eligible to claim the K-12 education subtraction and/or education credit.
Here are a few examples of qualifying educational expenses:
ü Pens, pencils notebooks, folders, etc.
ü Tutoring or instructor fees
ü Music lessons and instruments
ü Computer hardware and educational software
For more information, check out eh Minnesota Department of Revenue website at: www.taxes.state.mn.us
********** REMEMBER to SAVE your RECEIPTS **********
You can get a state tax credit or subtraction for costs for your children’s schooling or related things. These cover children in kindergarten through high school. The maximum credit is $ 1,000 per child. You can use costs like: tutors, academic books and materials, fees paid to others for transportation, music lessons, after school programs, and academic summer camps. You can also use costs for computer hardware or educational software ( $200 limit). Private school tuition is a subtraction only. To get credit, fill out Form M-1ED. To use the subtraction, do the worksheet on the back of Form M-1.