A bill to amend the Internal Revenue Code of 1954 to allow a deduction for certain amounts paid by a taxpayer for tuition and fees in providing certain education for himself, his spouse, and his dependents.

Summary

Revises the Internal Revenue Code to allow as a deduction (up to a maximum of $2,000) the amounts paid during the taxable year by a taxpayer for tuition and fees at an institution of higher education, or a vocational school for himself, his spouse, or a dependent as a full time student. Reduces any amount otherwise deductible under this Act by: (1) the amount which the taxpayer's income exceeds $23,500, and (2) by the amount received by an individual who could be taken into account for purposes of such deduction as a scholarship or fellowship grant or as veterans benefits.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 4 March 1975

  Open at official source

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