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Line 33
Student Loan Interest Deduction
You can take this deduction only if all of
the following apply.
•
You paid interest in 2018 on a
qualified student loan (defined later).
•
Your filing status is any status ex-
cept married filing separately.
•
Your modified adjusted gross in-
come (AGI) is less than: $80,000 if sin-
gle, head of household, or qualifying
widow(er); $165,000 if married filing
jointly. Use lines 2 through 4 of the
worksheet in these instructions to figure
your modified AGI.
•
You, or your spouse if filing joint-
ly, aren't claimed as a dependent on
someone else's (such as your parent's)
2018 tax return.
Use the worksheet in these instruc-
tions to figure your student loan interest
deduction.
Exception. Use Pub. 970 instead of the
worksheet in these instructions to figure
your student loan interest deduction if
you file Form 2555, 2555-EZ, or 4563,
or you exclude income from sources
within Puerto Rico.
Qualified student loan. A qualified
student loan is any loan you took out to
pay the qualified higher education ex-
penses for any of the following individu-
als who was an eligible student.
1. Yourself or your spouse.
2. Any person who was your de-
pendent when the loan was taken out.
3. Any person you could have
claimed as a dependent for the year the
loan was taken out except that:
a. The person filed a joint return;
b. The person had gross income that
was equal to or more than the exemption
amount for that year or $4,150 for 2018;
or
IRA Deduction Worksheet—Continued
Your IRA Spouse's IRA
7. Multiply lines 6a and 6b by the percentage below that applies to you. If the
result isn't a multiple of $10, increase it to the next multiple of $10 (for
example, increase $490.30 to $500). If the result is $200 or more, enter the
result. But if it is less than $200, enter $200.
•
Single, head of household, or married filing separately, multiply by 55%
(0.55) (or by 65% (0.65) in the column for the IRA of a person who is age
50 or older at the end of 2018).
•
Married filing jointly or qualifying widow(er), multiply by 27.5% (0.275)
(or by 32.5% (0.325) in the column for the IRA of a person who is age 50 or
older at the end of 2018). But if you checked “No” on either line 1a
or 1b, then in the column for the IRA of the person who wasn't covered by a
retirement plan, multiply by 55% (0.55) (or by 65% (0.65) if age 50 or
older at the end of 2018).
7a. 7b.
8. Enter the total of your (and your spouse's if filing
jointly):
•
Wages, salaries, tips, etc. Generally, this is the
amount reported in box 1 of Form W-2. Exceptions
are explained earlier in these instructions for line 32. 8.
•
Alimony and separate maintenance payments
reported on Schedule 1, line 11.
•
Nontaxable combat pay. This amount should be
reported in box 12 of Form W-2 with code Q.
9. Enter the earned income you (and your spouse if
filing jointly) received as a self-employed individual
or a partner. Generally, this is your (and your
spouse's if filing jointly) net earnings from
self-employment if your personal services were a
material income-producing factor, minus any
deductions on Schedule 1, lines 27 and 28. If zero or
less, enter -0-. For more details, see Pub.
590-A .................................. 9.
10. Add lines 8 and 9 .........................
10.
If married filing jointly and line 10 is less than $11,000 ($12,000 if
one spouse is age 50 or older at the end of 2018; $13,000 if both
spouses are age 50 or older at the end of 2018), stop here and use
the worksheet in Pub. 590-A to figure your IRA deduction.
11. Enter traditional IRA contributions made, or that will be made by the due date
of your 2018 return not counting extensions (April 15, 2019 for most people),
for 2018 to your IRA on line 11a and to your spouse's IRA on line 11b ...... 11a.
11b.
12. On line 12a, enter the smallest of line 7a, 10, or 11a. On line 12b, enter the
smallest of line 7b, 10, or 11b. This is the most you can deduct. Add the
amounts on lines 12a and 12b and enter the total on Schedule 1, line 32. Or, if
you want, you can deduct a smaller amount and treat the rest as a
nondeductible contribution (see Form 8606) .......................... 12a.
12b.
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