SAINT PAUL, Minn.—As families stock up on school supplies, the Minnesota Department of Revenue is urging parents to save their receipts for potential K-12 tax benefits.
Spokesman Ryan Broman says there are two valuable education-related tax breaks available.
“The K-12 educational credit does have income limitations, but subtraction does not, and most parents will qualify for that subtraction if they don’t qualify for the credit.”
Most expenses related to educational instruction or materials are eligible.
“Things like pens, notebooks, papers, textbooks. If you’re renting or purchasing educational equipment or musical instruments, those also qualify. Computer hardware and software, as well as educational software, qualify. Though I will say that the fees for Internet service do not.”
To qualify, the student must be in kindergarten through 12th grade at a public, private, or home school and meet other eligibility criteria.
