Im homeschooling my son, can i write off our supplies?

Question

Im homeschooling my son, can i write off our supplies?

Answer 1

No, no, and no again. You cannot write off anything pertaining to homeschooling in any states. If you try be prepared to be audited. It is against the law.

I wish this was true that you could Wouldn't that be great.

Answer 2

No you can't, this is often talked about on message boards.

Answer 3

Probably not. Check with your homeschool organization and such, but I don't recall any 'schooling' deductions on tax forms.

I homeschooled my daughter and don't recall having any tax deductions anywhere.

Answer 4

Yu need to talk with a tax man

If your state requires you to declare a formal private or homeschool, you might be able to do it on Schedule C, but only if they make you do things like take attendence and keep records.  Then the state is making you run it like a business.

You would have to follow IRS rules

A dedicated room and equipment (such as computer) used ONLY for teaching.

I say once again, talk with an EA or CPA

When a state DEMANDS you do work as a homeschool, when that state FORCES you to take tests on your own nickel you may be qualifed as a home based business.

Several states REQUIRE you to keep attendence logs.  REQUIRE you to have your kids tested but don't offer it for free.  When GOVERNMENT requires you to do something it can be a business.  You are in a business FORCED upon you by Government.

You need the advise of a EA or CPA

Then understand, you will only drop your tax liability a little.  $1,000 in business expenses translates into only about $20 in tax savings.

You can also get into the consulting end and turn it into a profit making situation.

You might also be eligible for grants.

You might be able to establish this as a 501(c) situation.

The idea behind all of this is expert advise from a lawyer, EA or CPA and understanding what your options, obligations and ultimate tax savings are.

You can generally write school expenses off Schedule A, but ONLY if your total Schedule A tax deductions exceed the $12-$16,000 Federal standard deduction.

You cannot take BOTH unless allowed by IRS law

THe only current "extra" you can take is part of personal health insurance and $2,500 of an IRA account.

Your total allowable A deducations have to exceed the Minimum Standard Deducation, otherswise you take the Standard.

You can't take both

BUT you can take a Schedule C if you qualify and the Standard.

You need to talk with a tax planner.  An EA or CPA.

Answer 5

No you can't, and why would you want to? By allowing that write off, it means the government now has its big ol' foot in your door.  Red tape is soon to follow. Look at all the hoops the public schools jump through to get that taxpayer money!!  

No thanks, I'll keep my freedom and Uncle Sam can keep the money!

Answer 6

This depends on your state. On the federal level, you cannot write off supplies, tuition, etc. for grades K-12 (For college, there are tax credits available, see http://www.collegeboard.com/parents/pay/... for more info on that).

On the state level, you might be able to write off or receive a tax credit for books and supplies and even tuition for classes. In Illinois, for example, Illinois Senate Bill 1075 provides taxpayers with an income tax credit of up to $500 for 25 percent of their child's qualified education expenses above $250.

Answer 7

I answered this question the other day:

Some states, mainly Minnesota & Illinois, have *state* tax credits for educational expenses. In Illinois, it's for *any* public, private, or homeschool expenses (HS's are considered private schools).

Here is an article at HSLDA about education tax credits:

http://www.hslda.org/docs/nche/000010/20...

We're in IL and we were able to claim the tax credit last year (and will do so for '07 taxes) and it reduced our state tax bill by $247. We can only deduct certain expenses:

http://revenue.state.il.us/Publications/...

http://www.revenue.state.il.us/TaxForms/...

So yes, in some places there are credits. But typically it's all on the parents to provide all the resources.

Answer 8

Usually no.  There are rare exceptions to this in some areas.

Answer 9

Check out the following Q&A on the same topic...

As mentioned above... probably not... but some additional info and perspective here...

Answer 10

A homeschool is not a business; therefore, you cannot write off your supplies.