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Federal Scholarship Tax Credit (FSTC) for Donations to Scholarship Granting Organizations (Section 70411)
Illinois — state programup to $1700
Beginning January 1, 2027, individual taxpayers may claim a nonrefundable federal tax credit for cash contributions of up to $1,700 to Scholarship Granting Organizations (SGOs) — charities that award scholarships for elementary and secondary educational expenses. Excess credits may be carried forward for up to 5 years.
Program details
- Type
- tax-credit
- Amount
- up to $1700
- Eligibility
- Individual taxpayers making cash contributions to qualifying SGOs in states that have elected to participate in the FSTC program and provided a list of qualifying SGOs to the IRS by January 1 of the calendar year.
- Status
- upcoming
- Administrator
- IRS / Treasury Department
Source: Illinois — state program. Confirm current terms with the administering agency before applying.