Affordable Youth Enrichment Opportunities Act

This bill proposes to amend the Internal Revenue Code of 1986 by creating a new tax deduction for individuals who incur expenses for their dependents' participation in qualified youth programs. The deduction aims to make academic, athletic, and artistic enrichment opportunities more affordable for families. It applies to expenditures for any dependent under the age of 19, covering costs such as program fees, equipment, training, and digital platforms. Taxpayers can claim a maximum deduction of $5,000 per taxable year. However, eligibility is restricted by income, with a modified adjusted gross income (MAGI) threshold of $200,000 for joint filers, $150,000 for heads of household, and $100,000 for other filers. The bill also specifies that no deduction is allowed if another taxpayer claims the individual as a dependent, preventing double benefits. These deduction limits and income thresholds will be adjusted for inflation in future years.