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State Representative Patti Fritz
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8237
For more information contact: Sandy Connolly 651-296-8877
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Rep. Fritz encourages families to take credit for K-12 school expenses Tax Filing Time reminder
With tax filing time quickly approaching, State Representative Patti Fritz (DFL-Faribault) is once again encouraging Minnesota families to take advantage of a state tax incentive that offers parents some help with K-12 education expenses.
Minnesota's Take Credit for Learning program offers both a deduction and a credit. All families with dependent children in grades K-12 are eligible for the Education Tax Deduction, regardless of income. Families get a deduction of $1,625 for each child in grades K-6 and up to $2,500 per child for grades 7-12. Eligible expenses for the deduction include non-religious textbooks and materials used in classes such as shop, home economics, art, and other subjects. The purchase or rental of musical instruments used for class during the day can be claimed, as can transportation and admission or fees for school trips. After-school educational enrichment programs, tutoring and summer programs that are academic in nature also qualify, as well as computer hardware and education software ($200 limit). Tuition for nonpublic school also qualifies as an eligible deduction.
The education tax credit allows eligible families to claim a refundable credit of 75% of every dollar spent on qualifying educational expenses, up to $1,000 per child. Eligible expenses are identical to those for the deduction, except nonpublic tuition cannot be claimed for the credit. For families with one or two children, the credit is phased out for incomes between $33,500 and $37,500. The phase-out extends by an additional $2,000 of income for each additional child for whom the credit is claimed.
"Most parents don't realize that there is some help available for the rising costs of educating their children," said Fritz. "I would encourage everyone to keep track of their expenses and take advantage of these programs."
For more information contact the MN Revenue website at www.taxes.state.mn.us/taxes/index.shtml.
News Items
- STATE REP. PATTI FRITZ PARTICIPATES IN START OF LEGISLATIVE SESSION - (Posted: Jan 9 2013 3:32PM)
- Rep. Fritz: Homeowners, Farmers Need Property Tax Relief - (Posted: 2012-05-01 00:00:00)
- Rep. Fritz: Let’s Vote on a Bonding Bill that Benefits All - (Posted: 2012-04-19 00:00:00)
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