EDUCATOR EXPENSE TAX DEDUCTION
- Teachers and other educators are able to deduct up to $300 of out-of-pocket classroom expenses. Beginning in 2026, expenses in excess of $300 may be claimed as itemized deductions. In addition, eligibility and the types of expenses are expanded. You cannot deduct classroom expenses if you have been reimbursed for them. You must have receipts to support all deductions.
MINIMUM AGE FOR DISTRIBUTIONS MADE DURING WORKING RETIREMENT
- Distributions can be made from certain qualified pensions to workers who are 59 ½ or older and are still currently working.
