Tax Question - student loan deduction

[gretchenindisguise]

Hi all. I did a run through my taxes this weekend and it said we have out-earned the student loan deduction, but I have a question.

It says that it used your adjusted gross income prior to the student loan deduction, but the software I used isn't using the income after the standard deduction, just my gross.

Rough numbers: we made combined around $175k, but with standard deduction we are down to roughly $151k. The software is saying that because we earned over $165 we don't get it.

My question is should it be calculated pre-standard deduction or post?

[dcn]

AGI is the number before you take the standard deduction. So it’s calculating it correctly, you are phased out.

[gretchenindisguise]

Jan 30, 2019 0:15:16 GMT -5 dcn said:

AGI is the number before you take the standard deduction. So it’s calculating it correctly, you are phased out.

Whomp whomp. That's a bummer.


Thanks for answering!