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us/statute/26/221/d/1 — Qualified education loan · Axiom

Qualified education loan

The term “qualified education loan” means any indebtedness incurred by the taxpayer solely to pay qualified higher education expenses—

(A) which are incurred on behalf of the taxpayer, the taxpayer’s spouse, or any dependent of the taxpayer as of the time the indebtedness was incurred,

(B) which are paid or incurred within a reasonable period of time before or after the indebtedness is incurred, and

Such term includes indebtedness used to refinance indebtedness which qualifies as a qualified education loan. The term “qualified education loan” shall not include any indebtedness owed to a person who is related (within the meaning of section 267(b) or 707(b)(1)) to the taxpayer or to any person by reason of a loan under any qualified employer plan (as defined in section 72(p)(4)) or under any contract referred to in section 72(p)(5).

in view

Whole section

▸rulespec code

Shown source

statutes/26/221.yaml

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Rules

statutory_student_loan_interest_deduction_cap

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_deduction_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: shall not exceed $2,500
  versions:
    - effective_from: '1990-01-01'
      formula: '2500'

statutory_student_loan_interest_phaseout_threshold_other_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '50000'

statutory_student_loan_interest_phaseout_threshold_joint_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '100000'

student_loan_interest_phaseout_range_other_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '15000'

student_loan_interest_phaseout_range_joint_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '30000'

student_loan_interest_deduction_before_income_phaseout

Derived

source: 26 USC 221(a), (b)

- name: student_loan_interest_deduction_before_income_phaseout
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 221(a), (b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: interest paid by the taxpayer during the taxable year on any qualified education loan
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/221#statutory_student_loan_interest_deduction_cap
            output: statutory_student_loan_interest_deduction_cap
            hash: sha256:local
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(max(0, qualified_education_loan_interest_paid_by_taxpayer),
        statutory_student_loan_interest_deduction_cap)

▸citations (3)

References

This rule cites 3 other rules.

26 USC § 267 (b)inferredUS Federal › Statutes › Title 26 › § 267 › (b)
26 USC § 72 (p)(4)inferredUS Federal › Statutes › Title 26 › § 72 › (p)(4)
26 USC § 72 (p)(5)inferredUS Federal › Statutes › Title 26 › § 72 › (p)(5)

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Qualified education loan

Official source

The term “qualified education loan” means any indebtedness incurred by the taxpayer solely to pay qualified higher education expenses—

(A) which are incurred on behalf of the taxpayer, the taxpayer’s spouse, or any dependent of the taxpayer as of the time the indebtedness was incurred,

(B) which are paid or incurred within a reasonable period of time before or after the indebtedness is incurred, and

in view

Whole section

▸rulespec code

Shown source

statutes/26/221.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/221; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

statutory_student_loan_interest_deduction_cap

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_deduction_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: shall not exceed $2,500
  versions:
    - effective_from: '1990-01-01'
      formula: '2500'

statutory_student_loan_interest_phaseout_threshold_other_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '50000'

statutory_student_loan_interest_phaseout_threshold_joint_return

Parameter

source: 26 USC 221(b)

- name: statutory_student_loan_interest_phaseout_threshold_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $50,000 ($100,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '100000'

student_loan_interest_phaseout_range_other_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_other_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '15000'

student_loan_interest_phaseout_range_joint_return

Parameter

source: 26 USC 221(b)

- name: student_loan_interest_phaseout_range_joint_return
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 221(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: $15,000 ($30,000 in the case of a joint return)
  versions:
    - effective_from: '1990-01-01'
      formula: '30000'

student_loan_interest_deduction_before_income_phaseout

Derived

source: 26 USC 221(a), (b)

- name: student_loan_interest_deduction_before_income_phaseout
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 221(a), (b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/221
            excerpt: interest paid by the taxpayer during the taxable year on any qualified education loan
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/221#statutory_student_loan_interest_deduction_cap
            output: statutory_student_loan_interest_deduction_cap
            hash: sha256:local
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(max(0, qualified_education_loan_interest_paid_by_taxpayer),
        statutory_student_loan_interest_deduction_cap)

▸citations (3)

References

This rule cites 3 other rules.

26 USC § 267 (b)inferredUS Federal › Statutes › Title 26 › § 267 › (b)
26 USC § 72 (p)(4)inferredUS Federal › Statutes › Title 26 › § 72 › (p)(4)
26 USC § 72 (p)(5)inferredUS Federal › Statutes › Title 26 › § 72 › (p)(5)