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16 More than 60 but not more than 70 $4,810 More than 70 $6,020

.29 Medical Savings Accounts. (1) Self-only coverage. For taxable years beginning in 2025, the term “high deductible health plan” as defined in § 220(c)(2)(A) means, for self-only coverage, a health plan that has an annual deductible that is not less than $2,850 and not more than $4,300, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits do not exceed $5,700. (2) Family coverage. For taxable years beginning in 2025, the term “high deductible health plan” means, for family coverage, a health plan that has an annual deductible that is not less than $5,700 and not more than $8,550, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits do not exceed $10,500. .30 Interest on Education Loans. For taxable years beginning in 2025, the $2,500 maximum deduction for interest paid on qualified education loans under § 221 begins to phase out under § 221(b)(2)(B), as adjusted for inflation, for taxpayers with modified adjusted gross income in excess of $85,000 ($170,000 for joint returns), and is completely phased out for taxpayers with modified adjusted gross income of $100,000 or more ($200,000 or more for joint returns). .31 Limitation on Use of Cash Method of Accounting. For taxable years beginning in 2025, a corporation or partnership meets the gross receipts test of § 448(c) for any taxable year if the average annual gross receipts of such entity for the 3-taxable-year period ending with the taxable year which precedes such taxable year does not exceed $31,000,000.

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Official source

16 More than 60 but not more than 70 $4,810 More than 70 $6,020

.29 Medical Savings Accounts. (1) Self-only coverage. For taxable years beginning in 2025, the term “high deductible health plan” as defined in § 220(c)(2)(A) means, for self-only coverage, a health plan that has an annual deductible that is not less than $2,850 and not more than $4,300, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits do not exceed $5,700. (2) Family coverage. For taxable years beginning in 2025, the term “high deductible health plan” means, for family coverage, a health plan that has an annual deductible that is not less than $5,700 and not more than $8,550, and under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits do not exceed $10,500. .30 Interest on Education Loans. For taxable years beginning in 2025, the $2,500 maximum deduction for interest paid on qualified education loans under § 221 begins to phase out under § 221(b)(2)(B), as adjusted for inflation, for taxpayers with modified adjusted gross income in excess of $85,000 ($170,000 for joint returns), and is completely phased out for taxpayers with modified adjusted gross income of $100,000 or more ($200,000 or more for joint returns). .31 Limitation on Use of Cash Method of Accounting. For taxable years beginning in 2025, a corporation or partnership meets the gross receipts test of § 448(c) for any taxable year if the average annual gross receipts of such entity for the 3-taxable-year period ending with the taxable year which precedes such taxable year does not exceed $31,000,000.