IRS Reminds Educators About Expense Deductions in 2023, IR-2023-150

The IRS has reminded eligible educators that they will be able to deduct out of pocket classroom expenses upto $300 while filing their federal income tax returns next year. If the taxpayer is married and files a joint return, the limit rises to $600 in total. Further, IRS assured that the limit will rise in $50 increments in the coming years based on the inflation adjustments. Educators eligible to avail the deductible includes all private and public school teachers, instructors counselors, principal or aide who has worked in a school for at least 900 hours during the school year.

Educators can deduct expenses including books, supplies, equipment, COVID-19 protective items etc. However, this does not include the cost of home schooling or for nonathletic supplies for courses in health or physical education. Further, educators were advised to see Publication 970, Tax Benefits for Education. As for taxpayers qualified for an extension in lieu of disaster stricken residence area or otherwise, the deadline for filing returns is October 16,2023. Finally, the IRS urged taxpayers to file electronically and to utilize the IRS Direct Pay option.