Tax credit for donations to public schools

Here’s what you need to know about claiming a tax credit for a donation to public or charter schools.

There are three major changes this year:

1. The maximum amount for tax year 2015 is $200 for an individual and $400 for a married couple filing jointly.

2. Previously, donations had to be made by Dec. 31. Now, however, they can be made through April 15 and donors can choose whether to claim them on their 2015 or 2016 taxes.

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3. In previous years, only funds spent on your child’s participation in an extracurricular or character education program at a public school qualified for this credit. As of 2015, qualifying contributions can support preparation courses, materials, fees for standardized testing for college credit or readiness, and contributions to support career and technical education certifications.

Also important to know:

• Checks should be made out to the individual school and the school should provide a receipt.
• Use Form 322 to claim a tax credit for contributions to a public school, including charter schools.