Eggert Financial Management, Inc.

Cultivating Wealth, Shaping Legacies
Bill Eggert, CFP®, NSSA®
President
7200 S. Alton Way
Suite A-210
Centennial, CO 80112
303-414-0400
info@eggertfinancial.net
www.eggertfinancial.net

January 10, 2019

2019 Key Numbers
 

Education Planning

American Opportunity and Lifetime Learning Credits

Education credits20192020
Maximum American Opportunity credit$2,500$2,500
Maximum Lifetime Learning credit$2,000$2,000
MAGI phaseout range for American Opportunity credit20192020
Single--phaseout threshold amount$80,000$80,000
Single--completed phaseout amount after$90,000$90,000
Married filing jointly--phaseout threshold amount$160,000$160,000
Married filing jointly--completed phaseout amount after$180,000$180,000
MAGI phaseout range for Lifetime Learning credit20192020
Single--phaseout threshold amount$58,000 $59,000
Single--completed phaseout amount after$68,000$69,000
Married filing jointly--phaseout threshold amount$116,000$118,000
Married filing jointly--completed phaseout amount after$136,000$138,000

Coverdell education savings accounts

Coverdell ESAs20192020
Annual contribution limit$2,000$2,000
MAGI phaseout range for Coverdell education savings accounts20192020
Single--phaseout threshold amount$95,000$95,000
Single--completed phaseout amount after$110,000$110,000
Married filing jointly--phaseout threshold amount$190,000$190,000
Married filing jointly--completed phaseout threshold amount$220,000$220,000

Deduction for qualified higher education expenses

Higher education expenses20192020
Maximum deductionN/AN/A

Deduction for student loan interest

Education loan interest deduction20192020
Maximum deduction for interest paid on qualified education loans$2,500$2,500
MAGI phaseout range20192020
Single--phaseout threshold amount$70,000 $70,000
Single--completed phaseout amount after$85,000$85,000
Married filing jointly--phaseout threshold amount$140,000 $140,000
Married filing jointly--completed phaseout amount after$170,000$170,000

Gift tax exclusion

Gift tax20192020
Annual gift tax exclusion--single individual$15,000 $15,000
Annual gift tax exclusion--joint gift$30,000$30,000
Lump-sum gift to 529 plan--single individual$75,000$75,000
Lump-sum gift to 529 plan--joint gift$150,000$150,000

Kiddie tax

Kiddie tax20192020
Generally, children pay federal income tax at the tax rates that apply to estates and trusts on any investment income over$2,200$2,200

U.S. savings bonds interest exclusion for college expenses

Joint returns20192020
Phaseout threshold for joint returns$121,600 $123,550
Completed phaseout amount after$151,600$153,550
Other returns20192020
Phaseout threshold for other returns$81,100 $82,350
Completed phaseout amount after$96,100$97,350
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Eggert Financial Management, Inc. is an Investment Advisory firm regulated by the State of Colorado.

 

Prepared by Broadridge Advisor Solutions Copyright 2019.