Tuition Tax Credit

Parents: Don't forget tuition tax credit!

The Illinois tution tax credit was signed into law on May 20, 1999. It allows a maximum $500 tax deduction per family for tuition, books and lab fees.

The tax credit took effect in the 2000 calendar year.  To file for the tuition tax credit, parents and legal guardians must have at least one child in a qualifying school (QND qualifies) and spend more than $250 in tuition, books or lab fees. Qualifying taxpayers are eligible for 25 percent credit for expenses over that limit up to $500 per family.

Just check out line 21 on your Illinois Income Tax Return Form 1040 and follow the instructions.