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Illinois
Education Credit |
Effective
January 1, 2001, taxpayers are allowed a credit against Illinois
income tax for qualified education expenses incurred on behalf
of qualifying pupils. The educa-tion credit is equal to 25%
of qualified education expenses, but the total education credit
allowed to a family cannot exceed $500 per year.
For you to claim the education credit, you must be the custodian
of one or more qualifying pupils and have incurred qualified
education expenses on behalf of the pupils. A qualifying pupil
is an Illinois resident, under the age twenty-one, and a full-time
student enrolled in a kindergarten through twelfth grade education
program.
Qualified education expenses include amounts incurred on behalf
of a pupil in excess of $250 for tuition, book and lab fees
at the school in which the student is enrolled during the regular
school year. Tuition is defined as an amount paid to a school
as a condition of enrollment in a kindergarten through twelfth
grade education program. Book fees are defined as amounts paid
for the use of books that are essential to a student’s
participation in the education program. Lab fees are defined
as amounts paid for the use of supplies, equipment, materials
and instruments that are essential to the student’s participa-tion
in a lab course of the school’s education program. Any
amount paid for the purchase of lab items that will remain the
property of the student at the conclusion of the school year
will not qualify for the credit.
To claim the credit, you must file Schedule ED with your Illinois
income tax return. Schedule ED requests the name and social
security number of the student, the amount paid for tuition,
books and lab fees and the name and address of the school.
February 20, 2001
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