There are currently several federal tax deductions and credits available to educators. While City Teaching Alliance does not provide tax advisement, we recommend that our teachers reach out to their tax agencies/providers when filing to ask about the following credits and deductions:
- Tuition and Fees Federal Deduction: Residents in the first year of the program may be eligible for a $4,000 deduction. More information can be found here.*
- Lifetime Learning Federal Income Tax Credit: Residents in the first year of the program may be eligible for a $2,000 tax credit qualified tuition and related expenses. More information can be found here.*
- Educator Expense Federal Deduction: Fellows and alumni who continue their careers as classroom educators may be eligible for a $250 tax deduction for costs like books, supplies, computer equipment and software, classroom equipment, and supplementary materials used in the classroom. Expenses for participation in professional development courses are also deductible.
*Please note that the Tuition and Fees Deduction and Lifetime Learning Federal Income Tax Credit may not be claimed during the same tax year. Again, we recommend that you seek tax advisement to ensure you are receiving the greatest tax benefit.