![]() You’ll want to get a copy of the packing slip with your items circled. Keep your cancelled check if you paid another homeschooler for your items on a combined order. When ordering with another family, as we often do to qualify for free shipping, be sure to document individual pricing of your items. If all else fails, copy the pages out of the catalog (or rip them out) and staple them to your proof of payment or email confirmation. Your packing slip, when the package arrives, may also include this information. Keep your email confirmation if it lists each item and its price. When ordering on line or by mail, you’ll need more than your credit card statement. ![]() It needs to be clear what the purchase price was for each item, as something may be disallowed and need to be subtracted from the total purchase. They will fade easily with soy based inks and heat sensitive papers.ĭocumentation is vital for your claims, so here are some situations common to homeschooling that will need particular attention to the “paper trail”. It’s helpful if you flip your receipt over at the time of purchase and make a note on the back as to what the purchase was for or how it relates to homeschooling. Keep your receipts for all related purchases, even if they aren’t currently allowed, as the rules can change from tax year to tax year. The key to maximizing your deductions is to be organized. If someone else completes your tax forms for you (a spouse, friend or tax professional), share this information with them so that you are all on the same page, and to ensure that you get the credit (or subtraction) you deserve!! Whether you prepare your own taxes or just sort your receipts for your tax preparer, it’s important to understand the documentation needed to prove your claims for the Education Credit or Subtraction on your Mn Income Tax forms. By Kim Jaworski, Homeschool Resource Specialistĭid you know that most of your homeschooling expenses are deductible on your Mn Income Tax return? Save those receipts and documentation of your expenses so you can get the full benefit of the deduction at tax time!
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