Every once in a while, someone asks, “how do we deduct homeschooling expenses?” The short answer is, we don’t.
Even if a state lodges homeschooling under the state’s private school statutes, homeschoolers are not running a business for their own children. If people accept money from other parents to school the children from another family, that is a private school, not homeschooling. Some states make allowances for including a limited number of children of other people in a family’s homeschooling, but, in Missouri at least, payment is not allowed. People who run private schools will have business expenses that can be deducted from the profits, but otherwise any costs are voluntary and a result of child-rearing decisions.
- Are Tax Credits for Educational Expenses a Good Idea for Homeschoolers?, Home Education Magazine
- A Tax Write-Off?, A to Z Home’s Cool
Some states do make allowances for tax credits, but for federal taxes, standard tax deductions apply.
- Just the FAQs – Tuition Tax Credits and Tax Deductions, The Center for Education Reform