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The cookie is used to store the user consent for the cookies in the category "Other. Second, you'll have to itemize your taxes to claim this deduction. Jon Swift on Twitter: "Tax deductible "donations" with quid pro quo Contributed revenue refers to gifts made freely without receiving any goods or services in exchange. If you get a larger refund or smaller tax due from another tax preparer, we'll refund the applicable TurboTax Live Full Service federal and/or state purchase price paid. Nor are fees or levies paid to public schools. Explore File your own taxes with expert help, Explore File your own taxes with a CD/Download, TurboTax Online: Important Details about Free Filing for Simple Tax Returns, See Why do private schools have fundraisers? 5 What makes a school district a cash equivalent? After all, the average cost for one year of private school tuition worked out to $11,658 nationally this year, which is more than a year of tuition at a public four-year, in-state college or university. Average Value: $4,912. The easiest way to donate to your child's school may be to forego donating supplies every few months and just write a check. This cookie is set by GDPR Cookie Consent plugin. You will, however, need to itemize your deductions instead of simply taking the standard deduction if you want to deduct more than the $300 allowed under the standard deduction for the 2020 tax year. Tuition is not deductible on federal income taxes, but parents have other options to reduce costs. Get started, Find deductions as a 1099 contractor, freelancer, creator, or if you have a side gig Discover more. In addition, certain nonexempt charitable trusts are also treated as private foundations. Nationally, higher-income families with greater tax liability benefit more. For instance, you aren't permitted to deduct money that you've given to a charity that provided you with a personal benefit. In the event you need to hire an appraiser, the IRS prohibits you from increasing your charitable contribution deduction by the fee the appraiser charges you.