Claim Your Credit

How Do I Claim My Credit?

We created this short video to show you how to claim the tax credit from your ACSTO donation. This video walks you through how to read your receipt, which tax forms to fill out, as well as what each section of your tax forms means.

This video focuses on how to file your paper tax returns yourself. If you use a common tax preparation software, it will usually ask you questions about any giving you did during the year, and will account for your tax credit donation automatically.

If you’ve created an account through our Donor Portal, you can print your own receipt right away (or within one business day if you just registered). For donations made through other means, we mail receipts weekly throughout the year (except in December and January), and send comprehensive annual statements by January 31. If you need a receipt for a previous year, call our office at 480.820.0403.

Your receipt will have your donation broken down between the Original and Overflow Tax Credits, and will tell you which amounts to claim on which tax forms.

Tax Forms

If you’re filing paper tax returns, you’ll need a couple of short forms in order to claim your tax credits. You’ll need Form 301 (Summary of All Arizona Credits) and Form 323 (Original Tax Credit) for sure, while some donors may also need Form 348 (Overflow Tax Credit).

NOTE: If you’re claiming a tax credit, you cannot use the short forms 140A or 140EZ, as these forms do not have fields for the tax credits.

2019 Instructions
Form 301 (Summary of Tax Credits)
Form 323 (Original Tax Credit)
Form 348 (Overflow Tax Credit)

Other Tax Credits

In addition to the Original and Overflow Tax Credits, there are many other different opportunities which you may be able to participate in. You can donate to any number of the different tax credits and receive a larger credit against your Arizona income taxes, as long as you have enough state tax liability to do so.

For 2020, a married couple filing jointly can claim up to $4,565 in dollar-for-dollar tax credits for donations to qualifying sources. Remember that ACSTO only deals with the Individual Private School Tax Credits (Original and Overflow); we cannot accept donations for any other type of tax credit.

If you plan on taking advantage of other tax credit opportunities, we encourage you to speak with your tax advisor to determine how much you can donate and claim a credit for.