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Tax Season Tip: Iowa tax credit for prom tickets!

April 06, 2010

It's not just tax season in Iowa; it's prom season too. While proms can be painful financially, both to parents and to boyfriends, Iowa eases the pain with a little tax break. Prom tickets are among the expenses that qualify for Iowa's "Tuition and Textbook Credit."

Flickr image courtesy www.chicagofabulousblog.com via Creative Commons license.

Eligible expenditures include:

* Books: books and other instructional materials used in teaching subjects legally and commonly taught in Iowa’s public elementary and secondary schools, including those needed for extracurricular activities
* Clothing: “non-street” costumes for a play or special clothing for a concert not suitable for everyday wear
* Driver’s Education: only if paid to the school
* Dues, Fees and Admissions: includes those paid for extracurricular activities such as activity fees; booster club dues; fees for track and cross-country; activity ticket or admission for high school athletic events; fees for a physical education event such as roller skating
* Materials: includes materials for extracurricular activities, such as sporting events, speech activities, musical or dramatic events, awards banquets, homecoming, prom, and other school-related social events
* Music: rental of musical instruments for school or band; music / instrument lessons at a school; sheet music used in a school; valve oil; cork grease; music books and reeds used in school bands or orchestras
* Shop class and mechanics class: cost of required basic materials
* Shoes: football, soccer, and golf shoes; cleats for football shoes; track spike shoes
* Travel: non-travel fees for field trips if the trip is during school hours
* Tuition: the school must be accredited; amounts paid are not allowed if they relate to teaching of religious tenets or doctrines of worship
* Uniforms: band, hockey, and football uniforms