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Student loan interest deduction. For 2023, the amount of your student loan interest deduction is gradually re-duced (phased out) if your MAGI is between $75,000 and $90,000 ($155,000 and $185,000 if you file a joint return). You can’t claim the deduction if your MAGI is $90,000 or more ($185,000 or more if you file a joint return). See chapter 4.
Use this form for qualified tuition and fees paid in 2018, 2019, or 2020, and later years if legislation extends the deduction (see instructions). File a separate Form 8917 for each year after 2017 for which you qualify to take the deduction.
7 maj 2021 · Information about Form 8917, Tuition and Fees Deduction, including recent updates, related forms and instructions on how to file. Form 8917 is used to figure and take the deduction for tuition and fees expenses paid in this tax year.
Form 8917 lets you claim a modest tax deduction for qualified education expenses. Let's break down who can use form 8917 and how to fill it out.
Here is a comparison of the American Opportunity Credit (AOC) and Lifetime Learning Credit (LLC). Taxpayers may claim either type credit for each student on the return but cannot claim both credits for one student. Use the table below to determine best possible tax savings.
Be sure you have read the Exception in the instructions for this line to see if you can use this worksheet instead of Pub. 970 to figure your deduction. Enter the total interest you paid in 2018 on qualified student loans (see the instructions for line 33).
23 lut 2024 · Income Limits & Phaseout (for 2023 & 2024): a taxpayer whose modified adjusted gross income is $80,000 or less ($160,000 or less for joint filers) can claim the credit for the qualified expenses of an eligible student. The credit begins to phase out above those MAGI levels.
