There is one summary for this bill. Bill summaries are authored by CRS.
Shown Here:Allows a credit, under the Internal Revenue Code of 1954, against the individual income tax for tuition paid for the elementary or secondary education of dependents. Limits such tax credit to 50 percent of education expenses or $400, whichever is less. Provides for a reduction of this tax credit in an amount equal to $1 for every $20 by which the taxpayer's adjusted gross income exceeds $25,000. Defines tuition expenses allowable and educational institutions eligible under this Act. (Amends 26 U.S.C. 42)
There is one summary for this bill. Bill summaries are authored by CRS.
Shown Here:Allows a credit, under the Internal Revenue Code of 1954, against the individual income tax for tuition paid for the elementary or secondary education of dependents. Limits such tax credit to 50 percent of education expenses or $400, whichever is less. Provides for a reduction of this tax credit in an amount equal to $1 for every $20 by which the taxpayer's adjusted gross income exceeds $25,000. Defines tuition expenses allowable and educational institutions eligible under this Act. (Amends 26 U.S.C. 42)
There is one summary for this bill. Bill summaries are authored by CRS.
Shown Here:Allows a credit, under the Internal Revenue Code of 1954, against the individual income tax for tuition paid for the elementary or secondary education of dependents. Limits such tax credit to 50 percent of education expenses or $400, whichever is less. Provides for a reduction of this tax credit in an amount equal to $1 for every $20 by which the taxpayer's adjusted gross income exceeds $25,000. Defines tuition expenses allowable and educational institutions eligible under this Act. (Amends 26 U.S.C. 42)
There is one summary for this bill. Bill summaries are authored by CRS.
Shown Here:Allows a credit, under the Internal Revenue Code of 1954, against the individual income tax for tuition paid for the elementary or secondary education of dependents. Limits such tax credit to 50 percent of education expenses or $400, whichever is less. Provides for a reduction of this tax credit in an amount equal to $1 for every $20 by which the taxpayer's adjusted gross income exceeds $25,000. Defines tuition expenses allowable and educational institutions eligible under this Act. (Amends 26 U.S.C. 42)