Correction to Publication 970, Tax Benefits for Education (Revision 2011 )-- 03-MAY-2012
If you downloaded Publication 970 (Revision 2011) before March 28, 2012, please note the following.
In Chapter 10, Education Savings Bond Program, the following changes were made to pages: 2, 61, 62, and 80 regarding the interest exclusion phase out. If you are married filing jointly or qualifying widow(er), the interest exclusion phases out when your modified adjusted gross income (MAGI) is between $106,650 and $136,650. You can not take the deduction if your MAGI is $136,650 or more.
For all other filing statuses, your interest exclusion is phased out if your MAGI is between $71,100 and $86,100. You can not take the deduction if your MAGI is $86,100 or more.
The corrected version of Publication 970 is available for download.
Page Last Reviewed or Updated: 2012-08-04
