See chapter 11.įorm 1098-T, Tuition Statement. The amount you can deduct for miles driven from July 1, 2022, through December 31, 2022, is 62.5 cents a mile. Generally, if you claim a business deduction for work-related education and you drive your car to and from school, the amount you can deduct for miles driven from January 1, 2022, through June 30, 2022, is 58.5 cents a mile. See chapter 9.īusiness deduction for work-related education.
You can't exclude any of the interest if your MAGI is $100,800 or more ($158,650 or more if you file a joint return). For 2022, the amount of your education savings bond interest exclusion is gradually reduced (phased out) if your MAGI is between $85,800 and $100,800 ($128,650 and $158,650 if you file a joint return). See chapter 4.Įducation savings bond program. You can’t claim the deduction if your MAGI is $85,000 or more ($175,000 or more if you file a joint return). For 2022, the amount of your student loan interest deduction is gradually reduced (phased out) if your MAGI is between $70,000 and $85,000 ($145,000 and $175,000 if you file a joint return).
