Client Resource Center

Practical answers for your questions

6140 S. 104th E. Ave., # 100 • Tulsa, OK 74133
Phone: 918-665-0001

Income Phaseout Levels

Here are the key phaseout levels for this year and next.

American Opportunity Tax Credit20202021
Single / Head of household$80,000 - 90,000$80,000 - 90,000
Joint$160,000 - 180,000$160,000 - 180,000
Married filing separately (MFS)$0$0


Child Tax Credit ($2,000 Per Child)20202021
Single / Head of household$200,000 - 240,000$200,000 - 240,000
Joint$400,000 - 440,000$400,000 - 440,000
Married filing separately$200,000 - 240,000$200,000 - 240,000
Family Tax Credit

$500/dependent non-qualifying CTCsame as child tax credit


College Savings Bond Interest Exclusion20202021
Single / Head of household$82,350 - 97,350$83,200 - 98,200
Joint$123,550 - 153,550$124,800 - 154,800
Married filing separately$0$0

* Adjusted or modified adjusted gross income.


Education Loan Interest Deduction20202021
Single / Head of household$70,000 - 85,000$70,000 - 85,000
Joint$140,000 - 170,000$140,000 - 170,000
Married filing separately$0$0


Education Savings Accounts20202021
Single / Head of household / MFS$95,000 - 110,000$95,000 - 110,000
Joint$190,000 - 220,000$190,000 - 220,000


Lifetime Learning Credit20202021
Single / Head of household$59,000 - 69,000$80,000 - 90,000
Joint$118,000 - 138,000$160,000 - 180,000
Married filing separately$0$0


IRA Deductibility (With Company Pension)20202021
Single / Head of household$65,000 - 75,000$66,000 - 76,000
Joint$104,000 - 124,000$105,000 - 125,000
Married filing separately$0 - 10,000$0 - 10,000
When spouse has company pension$196,000 - 206,000$198,000 - 208,000


Itemized Deductions20202021
Singleno phaseoutno phaseout
Joint returns & surviving spousesno phaseoutno phaseout
Married filing separatelyno phaseoutno phaseout
Head of householdno phaseoutno phaseout


Roth IRA Eligibility20202021
Single / Head of household$124,000 - 139,000$125,000 - 140,000
Joint$196,000 - 206,000$198,000 - 208,000
Married filing separately$0 - 10,000$0 - 10,000
Rollover of regular IRA to Roth IRANo income limitNo income limit



Questions about your financial situation?

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