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Teacher DeductionIf you are a teacher you may have thought that you no longer are eligble for the educators' deduction because it expired at the end of 2003. The good news is that this deduction was restored through The Working Families Tax Relief Act for 2004 and 2005.
The educators' deduction allows teachers to claim a $250 tax deduction for school supplies they bought with their own money. Teachers will need receipts for the items to make the claim. If you didn't save any of the receipts because you thought this deduction was no longer in effect, it may be worthwhile going through credit card statement to see if you can locate qualifying purchases to take this deduction.
This is an especially valuable tax deduction since there is no need to itemize your tax return to claim it. Some of the expenses that qualify include books, computer equipment, supplies, and supplementary materials used in the classroom.
The deduction is limited to instructional materials, so any prizes, stickers or other rewards you may give out to students don't qualify.
To qualify for this deduction, you must meet the following requirements:
You are a kindergarten through grade 12:
** Teacher
** Instructor
** Counselor
** Principal
** Aide
** You work at least 900 hours a school year in a school that provides elementary or secondary education, as determined under state law.
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