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April 5, 2022
Question

If I take an educator's expense deduction of $250 will my refund increase by $250?

  • April 5, 2022
  • 1 reply
  • 0 views
(I ask because turbotax will charge an an additional $100 to include this deduction - not sure if worth it.)

1 reply

April 5, 2022

No, it only reduces your taxable income by $250. If your marginal tax rate is 22%, your income tax will decrease by 22% * $250, unless you also qualify for other credits due to the reduction in taxable income.

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