A tax break for educators who spend their own money
Schools will soon be reopening for the fall, and with that comes a nice tax deduction for certain educators. Eligible K-12 teachers, instructors, counselors, principals and aides who make qualified, unreimbursed purchases out of their own pockets can deduct up to $250 of the costs on their tax returns even if they don’t itemize. If both spouses are eligible educators who file a married joint tax return, the deduction is $500.
This long-standing benefit for educators was updated earlier this year to add supplies used to prevent the spread of COVID-19, plus fees for professional development courses, books, supplies, computer equipment and related costs. Here’s more: https://bit.ly/3rlQxFs