Eggert Financial Management, Inc.

Cultivating Wealth, Shaping Legacies
Bill Eggert, CFP®, NSSA®
7200 S. Alton Way
Suite A-210
Centennial, CO 80112

January 10, 2019

2019 Key Numbers

Education Planning

Coverdell education savings accounts

Coverdell ESAs20182019
Annual contribution limit$2,000$2,000
MAGI phaseout range for Coverdell education savings accounts20182019
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 expenses20182019
Maximum deductionN/AN/A
MAGI maximum for full $4,000 deduction20182019
Married filing jointlyN/AN/A
Reduced deduction20182019
Reduced deduction availableN/AN/A
MAGI range for $2,000 deduction20182019
Single--MAGI greater than this amount:N/AN/A
Single--MAGI does not exceed this amount:N/AN/A
Married filing jointly--MAGI greater than this amount:N/AN/A
Married filing jointly--MAGI does not exceed this amount:N/AN/A

Education loans--interest deduction

Education loan interest deduction20182019
Maximum deduction for interest paid on qualified education loans$2,500$2,500
MAGI phaseout range20182019
Single--phaseout threshold amount$65,000 $70,000
Single--completed phaseout amount after$80,000 $85,000
Married filing jointly--phaseout threshold amount$135,000 $140,000
Married filing jointly--completed phaseout amount after$165,000 $170,000

Gift tax exclusion

Gift tax20182019
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 tax20182019
Generally, children pay federal income tax at the tax rates that apply to estates and trusts on any investment income over$2,100$2,200

American Opportunity and Lifetime Learning Credits

Education credits20182019
Maximum Lifetime Learning credit$2,000$2,000
Maximum American Opportunity credit$2,500$2,500
MAGI phaseout range for Lifetime Learning credit20182019
Single--phaseout threshold amount$57,000 $58,000
Single--completed phaseout amount after$67,000$68,000
Married filing jointly--phaseout threshold amount$114,000$116,000
Married filing jointly--completed phaseout amount after$134,000$136,000
MAGI phaseout range for American Opportunity credit20182019
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

U.S. savings bonds--interest exclusion for higher education expenses

Joint returns20182019
Phaseout threshold for joint returns$119,300 $121,600
Completed phaseout amount after149,300$151,600
Other returns20182019
Phaseout threshold for other returns$79,550 $81,100
Completed phaseout amount after$94,550$96,100
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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.