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Types of School Choice

How Do K–12 Education Tax Credits and Deductions Work?

How Do K–12 Education Tax Credits and Deductions Work?

Individual tax credits and deductions allow parents to receive state income tax relief for approved educational expenses, which can include private school tuition, books, supplies, computers, tutors and transportation. Tax credits lower the total taxes a person owes; a deduction reduces a person’s total taxable income.

 

Watch the short, animated video below to see how individual K–12 education tax credits and deductions work for families.

Eight states have individual K–12 education tax credit and/or deduction programs.

Check out the list below for quick links to those program details, which include family eligibility tests, participation numbers, funding amounts and more.

 

AL

Alabama – Accountability Act of 2013 Parent-Taxpayer Refundable Tax Credits

IA

Iowa – Tuition and Textbook Tax Credit

IL

Illinois – Tax Credits for Educational Expenses

IN

Indiana – Private School/Homeschool Deduction

LA

Louisiana – Elementary and Secondary School Tuition Deduction

MN

Minnesota – Education Deduction

Minnesota – K–12 Education Credit

SC

South Carolina – Refundable Educational Credit for Exceptional Needs Children

WI

Wisconsin – K–12 Private School Tuition Deduction

 

 

Individual Tax Credit and Deduction Fast Facts

Do you know how many taxpayers across the country are using individual K–12 education tax credit and deduction programs? For more little-known truths about these programs, visit our individual tax credit and deduction fast facts.

INDIVIDUAL TAX CREDIT/DEDUCTION FAST FACTS

 

To compare and contrast data from all of the states’ individual K–12 education tax credits and deductions, visit our School Choice in America Dashboard.

SCHOOL CHOICE IN AMERICA DASHBOARD

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