Amendments
2021—Subsec. (b)(2)(C)(i). Pub. L. 117–2 inserted “85(c)” before “911”.
2020—Subsec. (b)(2)(C)(i). Pub. L. 116–260 struck out “222,” after “and sections”.
Subsec. (e)(1). Pub. L. 116–136 inserted “, or for which an exclusion is allowable under section 127 to the taxpayer by reason of the payment by the taxpayer’s employer of any indebtedness on a qualified education loan of the taxpayer” after “provision of this chapter”.
2019—Subsec. (e)(1). Pub. L. 116–94 inserted at end: “The deduction otherwise allowable under subsection (a) (prior to the application of subsection (b)) to the taxpayer for any taxable year shall be reduced (but not below zero) by so much of the distributions treated as a qualified higher education expense under section 529(c)(9) with respect to loans of the taxpayer as would be includible in gross income under section 529(c)(3)(A) for such taxable year but for such treatment.”
2017—Subsec. (b)(2)(C)(i). Pub. L. 115–97, § 13305(b)(1), struck out “199,” after “and sections”.
Subsec. (f)(1)(B). Pub. L. 115–97, § 11002(d)(1)(U), substituted “for ‘calendar year 2016’ in subparagraph (A)(ii)” for “for ‘calendar year 1992’ in subparagraph (B)”.
2014—Subsec. (b)(1). Pub. L. 113–295 substituted “shall not exceed $2,500.” for “shall not exceed the amount determined in accordance with the following table:” and table of amounts for taxable years 1998 to 2001 and thereafter.
2005—Subsec. (d)(2). Pub. L. 109–135 substituted “the Taxpayer Relief Act of 1997” for “this Act”.
2004—Subsec. (b)(2)(C)(i). Pub. L. 108–357 inserted “199,” before “222”.
Subsec. (d)(4). Pub. L. 108–311, § 207(20), inserted “(determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof)” after “section 152”.
Subsec. (f)(1). Pub. L. 108–311, § 408(b)(5), amended directory language of Pub. L. 107–16, § 412(b)(2). See 2001 Amendment note below.
2001—Subsec. (b)(2)(B)(i), (ii). Pub. L. 107–16, § 412(b)(1), amended cls. (i) and (ii) generally. Prior to amendment, cls. (i) and (ii) read as follows:
“(i) the excess of—
“(I) the taxpayer’s modified adjusted gross income for such taxable year, over
“(II) $40,000 ($60,000 in the case of a joint return), bears to
“(ii) $15,000.”
Subsec. (b)(2)(C)(i). Pub. L. 107–16, § 431(c)(2), inserted “222,” before “911”.
Subsec. (d). Pub. L. 107–16, § 412(a)(1), redesignated subsec. (e) as (d), and struck out heading and text of former subsec. (d). Text read as follows: “A deduction shall be allowed under this section only with respect to interest paid on any qualified education loan during the first 60 months (whether or not consecutive) in which interest payments are required. For purposes of this paragraph, any loan and all refinancings of such loan shall be treated as 1 loan. Such 60 months shall be determined in the manner prescribed by the Secretary in the case of multiple loans which are refinanced by, or serviced as, a single loan and in the case of loans incurred before the date of the enactment of this section.”
Subsec. (e). Pub. L. 107–16, § 412(a)(1), redesignated subsec. (f) as (e). Former subsec. (e) redesignated (d).
Subsec. (e)(2)(A). Pub. L. 107–16, § 402(b)(2)(B), inserted “529,” after “135,”.
Subsec. (f). Pub. L. 107–16, § 412(a)(1), redesignated subsec. (g) as (f). Former subsec. (f) redesignated (e).
Subsec. (f)(1). Pub. L. 107–16, § 412(b)(2), as amended by Pub. L. 108–311, § 408(b)(5), substituted “$50,000 and $100,000 amounts” for “$40,000 and $60,000 amounts”.
Subsec. (g). Pub. L. 107–16, § 412(a)(1), redesignated subsec. (g) as (f).
1998—Subsec. (b)(2)(C). Pub. L. 105–277, § 4003(a)(2)(A)(iii), struck out concluding provisions which read as follows: “For purposes of sections 86, 135, 137, 219, and 469, adjusted gross income shall be determined without regard to the deduction allowed under this section.”
Subsec. (b)(2)(C)(i). Pub. L. 105–277, § 4003(a)(2)(A)(i), struck out “135, 137,” after “sections”.
Subsec. (b)(2)(C)(ii). Pub. L. 105–277, § 4003(a)(2)(A)(ii), inserted “135, 137,” after “sections 86,”.
Subsec. (d). Pub. L. 105–206, § 6004(b)(2), inserted at end “Such 60 months shall be determined in the manner prescribed by the Secretary in the case of multiple loans which are refinanced by, or serviced as, a single loan and in the case of loans incurred before the date of the enactment of this section.”
Subsec. (e)(1). Pub. L. 105–277, § 4003(a)(3), inserted before period at end “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)”.
Pub. L. 105–206, § 6004(b)(1), inserted “by the taxpayer solely” after “incurred” in introductory provisions.
Effective Date of 2001 Amendment
Amendment by section 402(b)(2)(B) of Pub. L. 107–16 applicable to taxable years beginning after Dec. 31, 2001, see section 402(h) of Pub. L. 107–16, set out as a note under section 72 of this title.
Pub. L. 107–16, title IV, § 412(a)(3), June 7, 2001, 115 Stat. 64, provided that:
“The amendments made by this subsection [amending this section and
section 6050S of this title] shall apply with respect to any loan interest paid after
December 31, 2001, in taxable years ending after such date.”
Pub. L. 107–16, title IV, § 412(b)(3), June 7, 2001, 115 Stat. 64, provided that:
“The amendments made by this subsection [amending this section] shall apply to taxable years ending after December 31, 2001.”
Amendment by section 431(c)(2) of Pub. L. 107–16 applicable to payments made in taxable years beginning after Dec. 31, 2001, see section 431(d) of Pub. L. 107–16, set out as a note under section 62 of this title.
