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Introduction

SECTION 4. DRAFTING

Internal Revenue Bulletin 2011-2 · 2026-10-03 edition · updated 2026-10-04 · United States

INFORMATION

The principal author of this revenue procedure is Christina M. Glendening of the Office of Associate Chief Counsel (Income Tax & Accounting). For further information regarding this revenue procedure, contact Ms. Glendening at (202) 622–4920 (not a toll-free call).

.07 Personal Exemption . (1) Exemption amount . For taxable years beginning in 2011, the personal exemption amount under § 151(d) is $3,700.

.08 Interest on Education Loans . For taxable years beginning in 2011, the $2,500 maximum deduction for interest paid on qualified education loans under § 221 begins to phase out under § 221(b)(2)(B) for taxpayers with mod

ified adjusted gross income in excess of $60,000 ($120,000 for joint returns), and is completely phased out for taxpayers with modified adjusted gross income of $75,000 or more ($150,000 or more for joint returns).

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▸Contents — Internal Revenue Bulletin 2011-2
Internal Revenue Bulletin 2011-2

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