Chapter from TaxAssurances’ Book: Educator Expenses

The following post is a chapter in the TaxAssurances’ book, “Top 12 Tax Deductions You Might Have Missed. Tax Tips For People Who Do Their Own Federal Taxes.”

You can purchase the full book on Amazon.

Chapter 11 Educator Expenses

Every year TaxAssurances prepares tax returns for a number of people in the education profession. They all spend countless hours preparing to help educate young children. Along with that time, these educators spend their own money helping educate children. The IRS rewards that effort in a small way by providing a tax benefit.

As a result, the IRS allows teachers, instructors, counselors, principals, and aides that work at least 900 hours in elementary or secondary schools deductions of up to $250 of any unreimbursed expenses.

Those expenses include:
• books
• supplies
• computer equipment
• Other equipment that they use in the classroom.

The IRS does have these following requirements on taking these expenses as a deduction:

“Qualified expenses are deductible only to the extent a number of such expenses exceed the following amounts for the tax year:

• The interest on qualified U.S. savings bonds that you excluded from income because you paid qualified higher education expenses,

• Any distribution from a qualified tuition program that you excluded from income,

• Any tax-free withdrawals from your Coverdell education savings accounts,

• Any reimbursed expenses not reported to you in box 1 of your Form W-2 (PDF).”

For more information about the educator expense deduction, read IRS Topic 458 on the IRS.gov website.

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