what is the income limit for education deduction
The deduction is $0, $2,000 or $4,000 depending on your Modified Adjusted Gross Income (MAGI). 1  $4,000 deduction for MAGI of $65,000 or less ($130,000 or less for joint returns).2  $2,000 deduction for MAGI between $65,001 and $80,000 (between $130,001 and $160,000 for joint returns). 3  $0 if your MAGI exceeds these limits. $4,000 deduction for MAGI of $65,000 or less ($130,000 or less for joint returns). 2  $2,000 deduction for MAGI between $65,001 and $80,000 (between $130,001 and $160,000 for joint returns). 3  $0 if your MAGI exceeds these limits.