Have you heard about the latest tax deduction for private school tuition? It's as follows:
INCOME TAX REDUCTION FOR WISCONSIN PRIVATE SCHOOL TUITION.....From the Grant Thornton State & Local Tax ALERT publication of July 9, 2013: "For taxable years beginning after December 31, 2013, the legislation introduces an income tax deduction for tuition expenses that are paid by a claimant for tuition for a pupil to attend an eligible institution. For each elementary pupil (kindergarten through eighth grade), in each year to which the claim relates, the maximum amount of tuition expenses which a claimant may subtract under this subdivision in a taxable year is $4,000. For each secondary pupil (ninth through twelfth grade), the maximum deductible amount of tuition expenses is $10,000. If an individual is an elementary pupil and a secondary pupil in the same taxable year, the claimant may claim the subtraction under this subdivision for only one grade for that pupil for that taxable year."
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