What STUDENT LOAN INTEREST DEDUCTION means: An adjustment to income for interest paid during the year on qualified higher-education loans. The deduction may be limited if income exceeds a specified amount. See http://www.hrblock.com/taxes/tax_calculators/rate_tables/student_loan_deduction.html?pgnavp=dc&pgnavc=dc_alph&pgnava=dc_alph_25 for the current amounts.
- Definition Statements:
- Dictionary Explanations of various types of income, deductions, and/or credits reported on a schedule or directly on Form 1040. Statements may or may not be official IRS forms student loan interest deduction definition.
- Definition Standard Deduction:
- Dictionary by the tax law in lieu of itemized deductions. A taxpayer whose gross income is not more than the sum of the standard deduction and exemptions generally does not have to pay tax. See our Standard student loan interest deduction explain.
- Definition Simplified Employee Pension (SEP):
- Dictionary An arrangement under which an employer makes contributions to an employee's individual retirement account (IRA), or a self-employed person contributes to his own plan student loan interest deduction what is.
- Definition Section 1245:
- Dictionary personal property is sold, gain must be recaptured as ordinary income up to the amount of depreciation claimed. Section 1245 is the Internal Revenue Code section that requires this treatment. Also student loan interest deduction meaning.
How works Student Loan Interest meaning in Tax definitions S .
