The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Student loan interest deduction threshold Date:  1/25/2005  12:46 PM
Author:  madmikeyd Number:  75797 of 128043

<What's the AGI threshold above which student loan interest isn't deductible?>

$65000, or $130000 if filing jointly. The benefit begins to phase out, however, at $50000/$100000.

<Also, that AGI is figured from gross wages after subtracting the 401(k) contributions, right?>

This is figured through MAGI [Modified Adjusted Gross Income], and 401(k) contributions are subtracted. It becomes AGI only after any student loan interest deduction is included.

For full details on this see IRS publication 970:

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us