The tentative tax credit for parents of homeschooled children should also be granted to parents who are veterans with 100% Permanent and Total/Total Disability Individual Unemployability.
Veterans with P&T/TDIU ratings cannot work therefore don’t have taxable income. We don’t qualify for EIC or CTC because of this. The homeschool tax credit should be different in the way that the income shouldn’t matter. Perhaps a grant instead of tax credit?
My husband and I are both P&T 100% disabled veterans with 5 children homeschooled. We should not miss out on this benefit because our only source of income is non taxable. This is meant to be a credit, not a refund based on income that has been taxed to determine if there is a qualifying refund. So, we should be able to check a box on our taxes that says, we are VA disabled so we qualify for this credit. This would mean the IRS acknowledges our income is non taxable but we still receive this credit.
This credit would do wonders for us to be able to afford adequate supplies, field trips, projects, tutors, music lessons, etc. it would do for us exactly what it is intended for but typically we would never see a penny because of our legal inability to work.