WASHINGTON, D.C. — As the new academic year approaches, the Internal Revenue Service (IRS) has issued a reminder to educators about the $300 deduction available for classroom expenses in 2024. This deduction remains unchanged from the previous year, offering teachers financial relief for materials they purchase to enhance students’ learning experiences.
Eligible educators include teachers, counselors, principals, and aides working at least 900 hours annually in elementary or secondary schools. They can claim up to $300 individually, or $600 when filing jointly, provided both spouses qualify. The deduction applies irrespective of whether educators opt for the standard deduction and is available to those in both public and private institutions.
Deductible expenses encompass a wide range of classroom necessities, from books and supplies to equipment like computers and software. Expenses related to COVID-19 safety measures, such as masks and disinfectants, are also covered. Additionally, costs for professional development courses that are relevant to educators’ roles can be deducted, although other tax benefits, such as the lifetime learning credit, may offer more advantage.
The IRS advises educators to keep thorough records, including receipts, to support their claims. For those still finalizing their 2023 tax returns due to extensions, the rules for claiming these expenses remain consistent for 2024. Filing electronically is recommended for a smoother process, and opting for direct deposit can expedite refunds. Schoolteachers are encouraged to utilize e-filing options to streamline their tax return submissions.
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