In order to take the Educator Expense Deduction, teachers should begin by determining eligibility. Once you have verified that you meet the minimum hours and that you work in a qualifying school, look at your expenses over the last year that qualify for this deduction.
There are a few factors that influence how much you can deduct:
- You can’t deduct expenses reimbursed by your school, covered by a grant or another source.
- Expenses can only be deducted when they exceed tax-free withdrawals from your Coverdell Education Savings Account, distributions from state tuition programs that you don’t report as income; and interest on savings bonds that don’t need to be reported if you paid higher education expenses.
- For tax years prior to 2018, qualified expenses in excess of the Educator Expense limits may be deductible as itemized deductions instead.
For more detailed information on the Educator Expense Deduction, look to IRS publication 529.
Click here for additional information on the Educator Expense Deduction.
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