Prom season coincides with tax season. If you are up late doing your tax return tonight while waiting for your daughter to come home, don’t forget that some of the money she’s spending tonight may reduce your Iowa taxes.
Iowa offers a Tuition and Textbook Credit of 25% of the first $1,000 of qualifying expenses. Check out what we consider “textbooks” in Iowa:
“Textbooks” means books and other instructional materials used in teaching those same subjects. This includes fees, books, and materials for extracurricular activities.
Examples of extracurricular activities
Sporting events, speech activities, musical or dramatic events, driver’s education (if paid to the K-12 school), awards banquets, homecoming, prom (clothing does not qualify), and other school-related social events.
Whatever your kids are learning on prom night, it might help with your Iowa tax bill.
2014 filing season tips – one daily through April 15!
Tags: 2014 filing season tips