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Education-related tax benefits.

Coverdell Educational Savings Accounts

Annual Contribution Limit $2,000

Contribution phase-out based on modified AGI

Married Filing Jointly $190,000-220,000

All Others 95,000-110,000

Student Loan Interest Deduction

Maximum interest deduction Deduction phase-out based on modified AGI $2,500

Married Filing Jointly $130,000-160,000

All Others 65,000-80,000

Higher Education Expense Deduction

Expired for tax years beginning after December 31, 2013

American Opportunity Tax Credit

Maximum Credit $2,500

Credit phase-out based on modified AGI

Married Filing Jointly $160,000-180,000

All Others 80,000-90.000

Lifetime Learning Credit

Maximum Credit Credit phase-out based on modified AGI $2,000

Married Filing Jointly $108,000-128,000

All Others 54.000-64,000

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Title Annotation:fast tax facts
Publication:California CPA
Article Type:Brief article
Geographic Code:1U9CA
Date:Nov 1, 2014
Words:114
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