Teachers Can Deduct Supplies On Taxes
Many Teachers Buy Items To Dress Up Classroom
POSTED: 2:16 p.m. EDT August 29, 2002
UPDATED: 6:25 p.m. EDT August 29, 2002
CLEVELAND -- The average teacher spends several hundreds of dollars on their classroom, and it's not tax deductible.
According to Troubleshooter Chris Caswell in Betcha Didn't Know, it's back-to-school time, and many items are being purchased by teachers to dress up classrooms.
School supplies bought for the school by administrators are tax deductible, however.
A special form is used to let storeowners or cashiers know, Caswell said.
"But ordinarily, teachers don't get that form," said Anne Dalzell, a certified public accountant. "They aren't acting as an agent of the school. They're acting on their own behalf."
Usually teachers buy many things to help enforce the lessons that they are trying to teach, Caswell said. But now teachers will have a chance to deduct the expenses.
New to the 1040 and 1040A this year is a deduction for classroom expenses.
Caswell said that $250 will now be deductible from teachers' adjusted gross income in calculating their taxable income.
In order to take advantage of the new deduction, teachers must hang on to receipts. In addition, union dues, magazine subscriptions and further education tuition fees are tax deductible.
School supplies bought for the school by administrators are tax deductible, however.
A special form is used to let storeowners or cashiers know, Caswell said.
"But ordinarily, teachers don't get that form," said Anne Dalzell, a certified public accountant. "They aren't acting as an agent of the school. They're acting on their own behalf."
Usually teachers buy many things to help enforce the lessons that they are trying to teach, Caswell said. But now teachers will have a chance to deduct the expenses.
New to the 1040 and 1040A this year is a deduction for classroom expenses.
Caswell said that $250 will now be deductible from teachers' adjusted gross income in calculating their taxable income.
In order to take advantage of the new deduction, teachers must hang on to receipts. In addition, union dues, magazine subscriptions and further education tuition fees are tax deductible.
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