Toni and Beyonze are married and file jointly. During 2018, they paid tuition for their daughter's college in the amount of $23,000. If their AGI was $142,000, what is the amount of tuition deduction they are eligible for?

Question

Quizplus · Accepted Answer

The tuition and fees deduction was phased out for taxpayers with an adjusted gross income (AGI) above certain levels. For married filing jointly, the phase-out began at $130,000 and was completely phased out at $160,000 in 2018. Since Toni and Beyonze's AGI was $142,000, they are not eligible for the tuition deduction, making the correct answer $0.

Toni and Beyonze Are Married and File Jointly