Summary: S.1425 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.1425. Bill summaries are authored by CRS.

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Introduced in Senate (05/13/2019)

This bill expands several tax deductions for education expenses. Specifically, the bill includes provisions that (1) allow an unlimited tax deduction for student loan interest, (2) repeal the dollar limitation on the tax deduction for qualified tuition and related expenses and make such deduction permanent, (3) allow carryovers to succeeding taxable years of amounts of the deductions for student loan interest and qualified tuition and related expenses that exceed a taxpayer's taxable income, and (4) repeal the dollar limitation on contributions to a Coverdell Education Savings Account.