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In general

Except as provided in paragraph (2), the deduction allowed by subsection (a) for the taxable year shall not exceed $2,500.

in view

Whole section

▸rulespec code

Shown source

statutes/26/221.yaml

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Rules

statutory_student_loan_interest_deduction_cap

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_deduction_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: shall not exceed $2,500
  versions:
    - effective_from: '1990-01-01'
      formula: '2500'

statutory_student_loan_interest_phaseout_threshold_other_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '50000'

statutory_student_loan_interest_phaseout_threshold_joint_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '100000'

student_loan_interest_phaseout_range_other_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '15000'

student_loan_interest_phaseout_range_joint_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '30000'

student_loan_interest_deduction_before_income_phaseout

Derived

source: 26 USC 221(a), (b)

- name: student_loan_interest_deduction_before_income_phaseout
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 221(a), (b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: interest paid by the taxpayer during the taxable year on any qualified education loan
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/221#statutory_student_loan_interest_deduction_cap
            output: statutory_student_loan_interest_deduction_cap
            hash: sha256:local
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(max(0, qualified_education_loan_interest_paid_by_taxpayer),
        statutory_student_loan_interest_deduction_cap)

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us/statute/26/221/b/1 — In general · Axiom

In general

Official source

Except as provided in paragraph (2), the deduction allowed by subsection (a) for the taxable year shall not exceed $2,500.

in view

Whole section

▸rulespec code

Shown source

statutes/26/221.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/221; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

statutory_student_loan_interest_deduction_cap

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_deduction_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: shall not exceed $2,500
  versions:
    - effective_from: '1990-01-01'
      formula: '2500'

statutory_student_loan_interest_phaseout_threshold_other_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '50000'

statutory_student_loan_interest_phaseout_threshold_joint_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '100000'

student_loan_interest_phaseout_range_other_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '15000'

student_loan_interest_phaseout_range_joint_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '30000'

student_loan_interest_deduction_before_income_phaseout

Derived

source: 26 USC 221(a), (b)

- name: student_loan_interest_deduction_before_income_phaseout
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 221(a), (b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: interest paid by the taxpayer during the taxable year on any qualified education loan
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/221#statutory_student_loan_interest_deduction_cap
            output: statutory_student_loan_interest_deduction_cap
            hash: sha256:local
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(max(0, qualified_education_loan_interest_paid_by_taxpayer),
        statutory_student_loan_interest_deduction_cap)