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The tax deduction limit for educators will increase for the first time in 20 years

Added 08-17-22 04:07:01am EST - “Eligible educators include K-12 teachers, principals, teachers' aides or counselors who spend more than 900 hours at the school during the academic year.” - Npr.org

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Posted By TheNewsCommenter: From Npr.org: “The tax deduction limit for educators will increase for the first time in 20 years”. Below is an excerpt from the article.

Angela Pike watches her fourth grade students at Lakewood Elementary School in Cecilia, Ky., as they use their laptops to participate in an emotional check-in at the start of the school day, Thursday, Aug. 11, 2022. Timothy D. Easley/AP hide caption

Angela Pike watches her fourth grade students at Lakewood Elementary School in Cecilia, Ky., as they use their laptops to participate in an emotional check-in at the start of the school day, Thursday, Aug. 11, 2022.

For the first time in 20 years, the Internal Revenue Service is increasing the deduction limit for the amount of money teachers spend on school supplies, the agency has announced.

Teachers will now be able to deduct up to $300 of out-of-pocket classroom expenses in 2022, up from the $250 that has been set since the incentive first started in 2002.

"The limit will rise in $50 increments in future years based on inflation adjustments," the IRS said.

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