Re:The Income Rich Take One For The Team. Thanks!
by techsupporter on Wednesday January 02, 2013 @03:40AM
(#4995840)
If you are married, filing jointly, the student loan interest deduction is fully gone at $150,000 of adjusted gross income. Yet another in a long line of reasons why DOMA sucks.
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Re:The Income Rich Take One For The Team. Thanks!
by Nrsolis on Wednesday January 02, 2013 @02:33PM
(#4998703)
One of many.
But I think my main point was that a lot of deductions disappear once your AGI reaches a point where people feel that you don't need the benefit of that deduction.
With Pease Itemized Deduction phaseouts, the effective tax rate for high wage earners goes up independent of their marginal tax rate because more of their income is taxed at those rates.