Tax Credits Available for Parents and Educators

With students back in the classroom and a new school year underway, the Illinois Department of Revenue (IDOR) is reminding eligible taxpayers that they may claim back-to-school expenses for their K-12 students on their 2024 individual income tax returns. With the high cost of living and taxes placing significant strain on working families, every bit of financial relief counts.

The Illinois Education Expense Credit allows parents or legal guardians of a full-time K-12 student under the age of 21 to take a 25% tax credit on qualified education expenses over $250, up to a maximum credit of $750. Eligible expenses include tuition, book rental, and lab fees paid to the school where the student is enrolled full-time. For families who homeschool, book rental and lab fees that exceed $250 also qualify, provided they are part of an approved home school program.

In addition to the credit for parents, Illinois also offers the K-12 Instructional Materials and Supplies Tax Credit for educators. Teachers, instructors, counselors, principals, and aides working in a qualified school for at least 900 hours during the school year can claim up to $500 for out-of-pocket expenses on classroom materials. For educator spouses filing jointly, the maximum credit doubles to $1,000.

Additional information regarding both tax credits may be found by visiting IDOR's website at tax.illinois.gov and Pub-112, Education Expense Credit General Rules and Requirements for Schools, Home Schools, Parents, and Guardians.