How Private School Tax Credits Work
The Arizona Private School Tax Credit Program allows any AZ taxpayer to contribute to a School Tuition Organization (STO), like AWSF, and claim a dollar-for-dollar credit on their tax return.
Am I eligible to participate?
Anyone who has an AZ state tax liability, no matter how small, can participate. In order to claim a dollar for dollar tax credit, the maximum contribution can be equal to your liability, or the maximum allowable for your filing status, whichever is less. See below for current year maximum amounts.
You have up until the day you file, no later than April 15th, to make a contribution to AWSF and claim a dollar for dollar tax credit.
Even if you do not have a liability, you can still participate. Your donation will be gratefully received as a charitable gift for tax purposes.
What if I'm expecting a refund?
You can still participate! A refund solely means you overpaid in withholdings. The portion of the withholdings that the state is keeping is your liability and can be redirected to AWSF.
How much can I contribute?
For 2018 filing, maximum amounts for Private School Tax Credits are:
$1,107 Maximum for filing Single , Married Separate, or HOH
$2,213 Maximum for Married filing jointly
How do I participate?
Find out your estimated tax liability for the year, or refer to your prior year’s tax return (if no changes in job or income.)
Contribute the maximum allowable for your filing status or your total liability, whichever is less. Please note that AWSF is able to accept donations in any amount, but tax credits can only be provided up to the above stated amounts.
Claim a Private School Tax Credit on your AZ tax return by using forms 301, 323 and 348.