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Unreimbursed Education Expenses Deduction

Posted 12:00 AM by

The state of Indiana recently released new legislation that entitles an individual tax deduction for up to $1,000 per dependent child for unreimbursed education expenditures. These expenditures include costs for tuition, fees, software, textbooks and school supplies for dependent children in grades K-12 enrolled in private school or who are homeschooled. This legislation is retroactive for year 2011 so the deduction can be made on the parent’s 2011 tax return.
For more information on this deduction, please see the information bulletin released by the Indiana Department of Revenue or contact your KSM advisor.