The Illinois Department of Revenue is hoping that taxpayers take advantage of school expenses on their 2021 Illinois individual income tax returns. Qualified educational expenses include tuition and book and lab fees in excess of $250 paid to the school where the student is enrolled on a full-time basis. If you are home schooled, book rental, and lab fees greater than $250 will be eligible when attending a qualified home schooling program. 

IL Dept. of Revenue Spokesperson Maura Kownacki says that the program is called the Illinois education expense credit and can get you a 25% tax credit.

The total credit may not exceed $750 for years ending on or after December 31, 2017, regardless of how many students qualify. Over 206,000 taxpayers claimed the Illinois Education Expense Credit in TY2020 totaling over $65.8 million with an average credit of $319. Kownacki says that you have to save your receipts.

To learn more about the Illinois Education Expense Credit visit IdoR’s publication 132 and 119 on the IdoR’s website, tax.illinois.gov.