Ohio homeschooling folks what do you know about this?

[cintinative]

 

New Ohio tax credit for home educators.  $250?

https://www.edchoice.org/school-choice/programs/k-12-home-education-tax-credit/

https://codes.ohio.gov/ohio-revised-code/section-5747.72

@kbutton

Edited February 15, 2022 by cintinative

[cintinative]

This is copied from Turbo Tax:

To qualify for this credit, you must pay for educational expenses for your dependent who is home schooled. The credit equals the lesser of $250 or the amount you paid for educational expenses.

Important: Expenses for dependents who attended school remotely due to the COVID-19 pandemic are not eligible for this credit.

In order to claim this credit, ALL of the following must be TRUE:
* You received a letter from your school district's superintendent excusing your dependent(s) from in-class attendance, approving a parent or eligible guardian(s) to provide home instruction, and
* Your dependent(s) DID NOT attend an online or virtual school/academy, and
* Your dependent(s) DID NOT attend school remotely due to the COVID-19 pandemic, and
* You incurred eligible educational expenses

Educational expenses include any of the following used in home school instruction:
* Books and subscriptions
* School supplies and supplementary materials
* Computer software and applications

Educational expenses does not include expenses or fees for computers or similar electronic devices or accessories.

To learn more about this credit, click and visit Ohio DOR FAQs section on the "Income - Individual Credits" topic at tax.ohio.gov/wps/portal/gov/tax/help-center/faqs/income+-+individual+credits/income-individual-credits

[kbutton]

Interesting. I have no idea if I have receipts from last year! I didn't have a ton of expenses last year compared to sometimes as I tend to buy stuff ahead when I find it used. 

I wonder what constitutes a receipt, lol! Paypal when I bought from an individual? 

[cintinative]

5 minutes ago, kbutton said:

Interesting. I have no idea if I have receipts from last year! I didn't have a ton of expenses last year compared to sometimes as I tend to buy stuff ahead when I find it used. 

I wonder what constitutes a receipt, lol! Paypal when I bought from an individual? 

 

I don't know why not. Turbotax is not requiring me to account for the purchases.  I just put in the amount. My guess is that it won't come up unless you are audited.

When I sell online, I send a paypal invoice, so you might have those in paypal?  

I started a spreadsheet and got to 250 easily from Abebooks, Thriftbooks and Amazon (worked back from Dec to April).  I didn't even get to Better World Books or paypal.

[Acadie]

That's awesome--I wish it existed when my girls were homeschooling!

[Kassia]

24 minutes ago, Acadie said:

That's awesome--I wish it existed when my girls were homeschooling!

Me too!