- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@srajkowski wrote:MAGI was over 200,000, but less than 250,000. The allowable deduction should have been around $6200. Only had about $1500 in interest,
The phase-out doesn't reduce the maximum amount, it reduces the allowable amount.
You said $6200, so I think you mean the phase-out is reducing things by $3800. You only had $1500 of interest, so subtracting $3800 from that result in a $0 deduction.
March 2, 2026
3:54 PM