With the new year quickly approaching, it is time to start thinking about taxes for 2019. If you are a teacher that spends out of pocket money for your classroom, good news! Some of those expenses may be deductible on your tax return.
Educators who work in schools can qualify to deduct up to $250 of unreimbursed expenses. If two educators are married and file a joint return, the deduction increases to $500. However, neither spouse can deduct more than $250 of their own expenses when they file.
Here’s how to qualify for the deduction:
- Teach any grade K-12.
- Are a teacher, instructor, counselor, principal, or aide.
- A minimum of 900 hours worked during the school year.
- Work in a school that provides elementary or secondary education.
Qualified expenses include:
- Courses for professional development
- Computer equipment including software
- Supplementary materials
- Athletic supplies needed for physical education
If you think you qualify for this deduction, keep track of your expenses throughout the year and report them to your Henry+Horne tax advisor when it is time to file your taxes.