Information Station

A collection of wealth improvement articles


2020 Income Phaseout Levels
American Opportunity (HOPE) Tax CreditPhaseout Level
Single / Head of Household$80,000 - 90,000
Joint$160,000 - 180,000
Married Filing Separately
$0
Child Tax Credit ($2,000 Per Child)Phaseout Level
Single / Head of Household$200,000 - 240,000
Joint$400,000 - 440,000
Married Filing Separately$200,000 - 240,000
Credit for Other Dependents
$500/Dependent Non-Qualifying CTCSame as Child Tax Credit
College Savings Bond Interest ExclusionPhaseout Level
Single / Head of Household$82,350 - 97,350
Joint$123,550 - 153,550
Married Filing Separately$ 0

* Adjusted or modified adjusted gross income.

Education Loan Interest DeductionPhaseout Level
Single / Head of Household$70,000 - 85,000
Joint$140,000 - 170,000
Married Filing Separately$ 0
Education Savings AccountsPhaseout Level
Single / Head of Household / MFS$95,000 - 110,000
Joint$190,000 - 220,000
Lifetime Learning CreditPhaseout Level
Single / Head of Household$59,000 - 68,000
Joint$118,000 - 136,000
Married Filing Separately$ 0
IRA Deductibility (With Company Pension)Phaseout Level
Single / Head of Household$65,000 - 75,000
Joint$104,000 - 124,000
Married Filing Separately
$0 - 10,000
When spouse has company pension$196,000 - 206,000
Itemized DeductionsPhaseout Level
SingleNot Applicable
Joint Returns & Surviving SpousesNot Applicable
Married Filing SeparatelyNot Applicable
Head of HouseholdNot Applicable
Personal ExemptionPhaseout Level
SingleSuspended
Joint Returns & Surviving SpousesSuspended
Married Filing SeparatelySuspended
Head of HouseholdSuspended
Roth IRA EligibilityPhaseout Level
Single / Head of Household$124,000 - 139,000
Joint$196,000 - 206,000
Married Filing Separately$0 - 10,000
Rollover of Regular IRA to Roth IRANo Income Limit