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Iowa Tuition and Textbook Credit

Well it doesn’t seem possible but it is already time to get ready to send the kids back to school.

This is a good time to remember the Iowa Tuition and Textbook Credit. Taxpayers who have one or more dependents attending Kindergarten through 12th grade in an accredited Iowa school may take a credit for each dependent for amounts paid for tuition and textbooks. The credit amount is 25% of the first $1,000 paid for each dependent for tuition and textbooks.

Textbooks means books and other instructional materials used in teaching those same subjects. This includes fees, books, and materials for extracurricular activities.Examples of extracurricular activities: sporting events, speech activities, musical or dramatic events, driver’s education (if paid to the K-12 school), awards banquets, homecoming, prom (clothing does not qualify), and other school-related social events.

The cost of the following items are eligible for the credit:

  • Books: books and other instructional materials used in teaching subjects legally and commonly taught in Iowa’s public elementary and secondary schools, including those needed for extracurricular activities

  • Clothing: “non-street” costumes for a play or special clothing for a concert not suitable for everyday wear

  • Driver’s Education: only if paid to the K-12 school

  • Dues, Fees and Admissions: includes those paid for extracurricular activities such as activity fees, booster club dues, fees for track and cross-country, activity ticket or admission for high school athletic events, fees for a physical education event such as roller skating

  • Materials: includes materials for extracurricular activities such as sporting events, speech activities, musical or dramatic events, awards banquets, homecoming, prom, and other school-related social events

  • Music: rental of musical instruments for school or band; music/instrument lessons at a school; sheet music used in a school; valve oil; cork grease; music books and reeds used in school bands or orchestras

  • Parking: fees required to park at the school and paid to the school

  • Shop class and mechanics class: cost of required basic materials

  • Shoes: football, soccer and golf shoes; cleats for football shoes; track spike shoes

  • Travel: non-travel fees for field trips if the trip is during school hours

  • Tuition: the school must be accredited; amounts paid are not allowed if they relate to teaching of religious tenets or doctrines of worship

  • Uniforms: band, hockey, and football uniforms

We recommend keeping good records of the above items so you can save on your Iowa taxes!

Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein

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