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Accounting

Do you know about Iowa’s Tuition and Textbook Credit?

9/4/2019

ALICIA SHAUL
CPA MBA

The Iowa Tuition and Textbook credit is a state income tax credit for 25 percent
up to $1,000 ($250) for each Kindergarten – 12th grade child’s qualified tuition, textbooks and certain extra-curricular activity costs. You must be able to claim the child as a dependent on your income tax return in order to claim the credit on the state return. This is an Iowa-only credit and cannot be claimed on the federal tax return.

Qualified costs include tuition, textbooks, activity fees, booster club dues, sports
uniforms, cleats, spikes, “non-street” costumes for theater, show choir, etc.,
instrument rental, sheet music, valve oil, reeds, school parking, required materials for shop class, etc. School lunch costs are not eligible for this credit.

Please visit https://tax.iowa.gov/expanded-instructions/tuition-and-textbookcredit-k-12-only for greater details on the Iowa Tuition and Textbook Credit.

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