Save back to school shopping receipts to claim tax benefits
MANKATO, Minn. (KEYC) - The Minnesota Department of Revenue says parents and caregivers can use the receipts they save from back to school shopping to claim K-12 tax benefits when filing their taxes next year.
Two tax benefits can help Minnesota families pay expenses related to their child’s education: the refundable K-12 Education Credit, where income limits apply, and the K-12 Education Subtraction, where there are no income limits.
These programs reduce the tax parents pay and could deliver a larger refund when filing a Minnesota income tax return.
To qualify, the purchases must be for educational services or required materials. The child must be attending kindergarten through 12th grade at a public, private or home school and meet other qualifications.
Most expenses for materials qualify.
For more information, click here.
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