Here’s what you need to know about claiming a tax credit for a donation to public or charter schools.
How much?
Arizona taxpayers can claim a credit for donations of up to $400 for a married couple filing jointly or up to $200 for all other filers. You have to make the donation up front but you can get every dollar back in the form of a tax credit.
Who can I give it to?
Donations can be made to any Arizona public or charter school.
You can also claim a tax credit for donations made to school tuition organizations, which provide scholarships to private schools. (You can also get a tax break for non-education related groups: a qualified charitable organization or foster care organization or to the Arizona Military Family Relief Fund.)
What else?
Qualifying donations can be paid to a school for the benefit of your child’s participation in a particular activity. Fees must be for the exact amount of the activity, and the activity may have a monetary charge in order to participate.
Donations also can be paid to a central fund at the school that funds extracurricular activities for all students.
How do I pay?
Checks must be made out to the individual school and the school should provide a receipt.
When?
Donations to public and charter schools must be made by April 18, 2017. Donations made between Jan. 1 and April 18, 2017, can be claimed on your 2016 or 2017 tax returns.
How do I claim the credit on my taxes?
Use Form 322 to claim a tax credit for contributions to a public school, including charter schools.
