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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.
Tuition and fees deduction. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 repealed the tuition and fees deduction for tax years beginning after 2020. In-come limitations for the lifetime learning credit were in-creased to help filers transition to the lifetime learning credit. We removed former chapter 6 and renumbered
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.
Please use this worksheet to give us education expenses, student loan interest and ESA / 529 Plan information for preparation of your tax returns. There are two versions of this worksheet; a non‐fillable PDF (what you are viewing now) and an online digital form.
11 kwi 2024 · OVERVIEW. The Tuition and Fees Deduction was extended through the end of 2020. It allows you to deduct up to $4,000 from your income for qualifying tuition expenses paid for you, your spouse, or your dependents. TABLE OF CONTENTS. When can I take this deduction? Which expenses qualify? What if I receive grants or scholarships? Click to expand.
24 wrz 2020 · The tuition and fees deduction Form 8917 is a form that allows you to deduct a portion of your qualifying post-secondary education during a given tax year. How many courses do you need to attend to qualify for the deduction?
