It's almost time to start back-to-school shopping. The Minnesota Department of Revenue reminds you that most school supply purchases qualify for valuable K-12 tax benefits on your 2019 Minnesota income tax return.
Parents should keep receipts for these purchases and claim the K-12 Education Credit or Subtraction to help save money when it comes time to their file Minnesota income tax return.
*What K-12 tax benefits does Minnesota offer?*
Two Minnesota tax benefits help families pay their child's education expenses: the**K-12 Education Credit** [https://www.revenue.state.mn.us/k-12-education-subtraction-and-credit ] and the**K-12 Education Subtraction** [https://www.revenue.state.mn.us/k-12-education-subtraction-and-credit ].
*Do I qualify for these tax benefits?*
To qualify, you must have purchased educational services or materials in 2019 to assist with your child's education. Your child must also be attending kindergarten through 12th grade at a public, private, or home school. Separate requirements apply for the credit and subtraction.
Most expenses for educational instruction or materials qualify, see: [https://www.revenue.state.mn.us/qualifying-expenses
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Minnesota Income Tax reduction for Parents with kids in school
It's almost time to start back-to-school shopping. The Minnesota Department of Revenue reminds you that most school supply purchases qualify for valuable... More info at www.boreal.org/events/170294/minnesota-income-tax-reduction-for-parents-with-kids-in-school
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