Save Back-to-School Receipts for Minnesota’s K-12 Education Tax Breaks

(KNSI) — Parents should hang on to receipts from back-to-school shopping because they can be quite valuable come tax time.

The Minnesota Department of Revenue says there are two tax benefits to help families: the refundable K-12 Education Credit and the K-12 Education Subtraction.

To qualify, purchases must be for required school supplies, such as paper, pens and notebooks, as well as textbooks and educational materials. Parents can also claim rental or purchase costs for equipment such as musical instruments, and for computer hardware such as hotspots, modems and routers. Educational software qualifies for up to $200 per program, and families can also claim expenses for after-school tutoring services and educational summer camps. While internet service fees do not qualify for either benefit, the hardware needed to access online educational resources does.

Last year, more than 44,000 families received the K-12 Education Credit, with an average credit of $379. More than 114,000 families received the K-12 Education Subtraction, with an average subtraction of $1,438.

See what is and isn’t covered, along with other qualifications, here.

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