Homeschool Tax Deductions and Credits in Illinois
Yes. Illinois's Education Expense Credit covers homeschool costs: 25 percent of qualifying expenses above the first $250, up to $750 a year per family.
How the credit works
The Illinois Department of Revenue counts a homeschool that satisfies the truancy law as a school for this credit, and its Publication 112 sets the rules. The cap is per family, however many children you teach.
For homeschools, qualifying expenses include tuition, workbooks and other materials that get used up, rented books or courses, and lab materials, plus shipping and sales tax on those items. Reusable textbooks, calculators, travel, and items your family keeps do not qualify.
Illinois has no education savings account or scholarship program for homeschoolers.
Who qualifies
Residence and age
You and your child are Illinois residents, and your child is a full-time student under 21 at the end of the school year.
Income limit
The credit is not allowed when adjusted gross income exceeds $500,000 on a joint return or $250,000 on other returns.
Applying and paying
First step
Keep each receipt for qualifying expenses as you buy during the year.
What can rule you out
The credit is nonrefundable, so it can lower your Illinois income tax to zero but pays nothing beyond that.
What you still pay
At most $750 a year comes back, so a family spending $3,250 or more on qualifying items gets the full credit and pays the rest.
When to apply or file
Claim the credit on Schedule ICR with your Illinois return for the tax year, and attach the receipts. A canceled check does not count as a receipt.
Teaching that takes the work off you
We teach every subject starting at your child's level, grade the work as it is submitted, and keep the attendance, grades, and transcript, so homeschooling asks less of your time.
$149/month per child after the trial.
Confirm current tax, scholarship, and ESA rules with the program before you rely on them.