Under a bill recently signed by Iowa Governor Kim Reynolds, many homeschool families can look forward to a smaller tax burden.

For a number of years, families paying tuition to a private school have had access to a state tax credit. House File 847 expands this to include most homeschool families.

The bill also increases the maximum amount of the credit. Previously, it was 25% of the first $1,000. The bill increases this to 25% of the first $2,000 “paid to others for each dependent in grades kindergarten through twelve, for tuition and textbooks.”

This article discusses the bill while it was known as House File 808.

Thanks to a governor and legislature who truly value a parent’s right to choose the best educational option for their child, parents who decide to homeschool in Iowa will now find themselves treated with dignity that is comparable to parents who choose private schools. Your tax advisor can tell you whether you qualify for the tax credit.