Tax Deductions that won’t be Changing

Updated: Apr 14, 2020

Teacher Deduction

Teachers can deduct

up to $250

for unreimbursed expenses for classroom supplies or school materials from their taxable income.

Electric Cars

Electric car owners who bought a vehicle after 2010 may be given a tax credit of

up to $7,500

, depending on the battery capacity.

Adoption Assistance

Adoptive parents are allowed a tax credit and employer-provided benefits up to

$13,570

per eligible child in 2017.

Student Loan Interest Deduction

Student loan borrowers may deduct up to

$2,500

on the interest paid for student loans every year.

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