You are a teacher; you constantly buy supplies for your classroom. Can you deduct any of the expenses?
Yes, if you are an eligible educator who is:
- a kindergarten through grade 12:
- Teacher
- Instructor
- Counselor
- Principal, or
- Aide, and
- You work at least 900 hours a school year in a school that provides elementary or secondary education as determined under state law.
Unfortunately starting 2015, a lot of teachers lost educator (teacher) expenses deduction, as it becomes above the line itemized deduction subject to 2% AGI.
For example, your AGI is $30,000, your 2% is 30,000*2%= $600. If you spent less than $600, there is nothing you can deduct, if you spent $850, than you can deduct $250 only . $875-600=$275, but IRS limits you only to $250. $500 if couple filled married filing jointly and both spouses are eligible educators.
So to summarize, before 2015, you could have deducted $250, granted you spent $250 or more.
Starting 2015, you need to spent 2% of your AGI plus $250. This deduction is taken now on Schedule A, Itemized deductions. See a video that shows where it goes.