A bill to amend the Internal Revenue Code of 1986 to expand the deduction for interest on education loans, to extend and expand the deduction for qualified tuition and related expenses, and eliminate the limitation on contributions to Coverdell education savings accounts.

Summary

This bill expands several tax deductions for education expenses. Specifically, the bill includes provisions that (1) allow an unlimited tax deduction for student loan interest, (2) repeal the dollar limitation on the tax deduction for qualified tuition and related expenses and make such deduction permanent, (3) allow carryovers to succeeding taxable years of amounts of the deductions for student loan interest and qualified tuition and related expenses that exceed a taxpayer's taxable income, and (4) repeal the dollar limitation on contributions to a Coverdell Education Savings Account.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 13 May 2019

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 13 May 2019

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 13 May 2019

  Open at official source

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