Home schooling expenses are specifically excluded from qualified expenses for tax purposes. Also, expenses for non-athletic supplies used in health or physical education courses are not deductible.
Certain amounts that you earn or receive must be subtracted from the qualified expenses you can deduct. Any of the following amounts will reduce your qualified expenses:
Excludable U.S. series EE and I savings bond interest
Nontaxable earnings from a qualified state tuition program
Nontaxable earnings from Coverdell education savings accounts
Any reimbursements you receive for your education expenses that were not reported in box 1 of your Form W-2 as taxable compensation.
What If I Have More Expenses than the Maximum Deduction?
If you have qualified expenses for more than the maximum amount allowable as an adjustment to income on Form 1040, and you itemize deductions rather than taking the standard deduction, you can deduct the excess as an itemized deduction on Schedule A. The amount you can deduct as an itemized deduction would be combined with any other job expenses or other miscellaneous itemized deductions you have, and would be subject to the 2% of adjusted gross income limit that applies on these types of itemized deductions.