IRS News Release: IRS Says Teachers Can Deduct Up to $300 for 2023

The IRS Aug. 17 reminded teachers and other educators that they’ll be able to deduct up to $300 of out-of-pocket classroom expenses for 2023 when they file their federal income tax return next year. This is the same limit that applied in 2022, the first year this provision became subject to inflation adjustment. [IR-2023-150 (Aug. 17, 2023)]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.