SWIM Act of 2024

The SWIM Act of 2024 creates a new tax deduction for basic water safety and swimming instruction expenses. It allows taxpayers to deduct up to $500 per year ($1,000 for joint returns or heads of household) for qualifying lessons focused on water safety and competency - not competitive swimming. Expenses include lesson fees and up to $100 per item for necessary equipment. The deduction applies to expenses paid for individuals participating in these specific safety-focused programs. This change affects taxpayers with children or dependents enrolled in approved basic swimming and water safety courses.