Unlock Your "Above-the-Line" Deductions
These powerful deductions reduce your Adjusted Gross Income (AGI), which can help you qualify for even more tax breaks. Use the tools below to see which ones you can claim for 2024.
For Students & Educators
Educator Expenses
$300
Eligible K-12 educators can deduct up to $300 ($600 if married filing jointly and both are educators) for unreimbursed classroom expenses.
Student Loan Interest Deduction
Your Max Deduction (up to $2,500):
$2,500
For Health & Retirement Savings
Health Savings Account (HSA)
For those with a high-deductible health plan. Contributions are tax-deductible, grow tax-free, and withdrawals are tax-free for medical expenses.
Self-Only
$4,150
Family
$8,300
+ $1,000 catch-up if age 55+
Traditional IRA Deduction
Your Max Deduction (up to $7,000*):
$7,000
*or $8,000 if age 50+
For the Self-Employed
SE Tax Deduction
50%
Deduct one-half of your self-employment taxes paid. This is the "employer-equivalent" portion.
SE Health Insurance
100%
Deduct 100% of health, dental, and long-term care insurance premiums for yourself, spouse, and dependents.
SE Retirement Plan Contributions
Contribute a significant amount to retirement on a pre-tax basis. Limits for 2024:
