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As the 2024 school year gets into full swing, the IRS is reminding educators they can claim a deduction of up to $300 for classroom expenses.
While it might not cover everything, every little bit helps.
What Can You Deduct?
This deduction is designed to help teachers offset the costs of classroom supplies, from books to essential equipment.
Even COVID-19 safety supplies like masks and disinfectants are included.
However, it’s important to note that homeschool and nonathletic supplies for health and physical education aren’t eligible.
This small boost in the deduction cap—from $250 in 2022 to $300 in 2023—was introduced to account for inflation.
It’s a modest increase, but it’s a step in the right direction for those who invest in their classrooms out of their own pockets.
How to Claim Your Deduction
For those who qualify, the IRS suggests filing electronically, especially if you’ve been granted a tax filing extension or qualify for a disaster extension.