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Interest deduction |
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Interest deduction An interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes. |
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The interest deduction for second homes has been available since 1986 for boats with a galley, head and sleeping quarters and financed with a secured loan, that is, a loan in which the boat is held as collateral. EDUCATION-RELATED TAX BENEFITS Coverdell Educational Savings Accounts Annual Contribution Limit $2,000 Contribution Phaseout based on modified AGI Single $95,000-110,000 Married Filing Jointly 190,000-220,000 Student Loan Interest Deduction Maximum interest deduction $2,000 Deduction phaseout based on modified AGI Single $50,000-65,000 Married Filing Jointly $105,000-135,000 roadshow--was the announcement of what is being promoted as "the Belgian Tax Deduction for Risk Capital," the notional interest deduction (see sidebar). |
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Interest deduction
