Taxes 2006 QuikGuide - Tax Benefit Income Phase-Out Levels

Itemized Deductions	Phase-Out Level
Single / Joint / Head of household	$150,500
Married filing separately	$75,250

Personal Exemption	Phase-Out Level
Single	$150,500 - 273,000
Joint returns & surviving spouses	$225,750 - 348,250
Married filing separately	$112,875 - 174,125
Head of household	$188,150 - 310,650
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Child Credit ($1,000 Per Child)	Phase-Out Level
Single / Head of household	Starts at $75,000
Joint	Starts at $110,000
Married filing separately	Starts at $55,000

IRA Deductibility (With Company Pension)	Phase-Out Level
Single / Head of household	$50,000 - 60,000
Joint	$75,000 - 85,000
Married filing separately	$0 - 10,000
When spouse has company pension	$150,000 - 160,000
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Roth IRA Eligibility	Phase-Out Level
Single / Head of household	$95,000 - 110,000
Joint	$150,000 - 160,000
Married filing separately	$0 - 10,000
Rollover of regular IRA to Roth IRA (not allowed for married filing separately)	$100,000

Education Savings Account (Ed IRA)	Phase-Out Level
Single / Head of household / Married filing separately	$95,000 - 110,000
Joint	$190,000 - 220,000
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Hope/Lifetime Learning Credits	Phase-Out Level
Single / Head of household	$45,000 - 55,000
Joint	$90,000 - 110,000
Married filing separately	$ 0

Education Loan Interest Deduction	Phase-Out Level
Single / Head of household	$50,000 - 65,000
Joint	$105,000 - 135,000
Married filing separately	$ 0
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College Savings Bond Interest Exclusion	Phase-Out Level
Single / Head of household	$63,100 - 78,100
Joint	$94,700 - 124,700
Married filing separately	$ 0
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Child Credit	Education Savings Accounts	Itemized Deductions
College Savings Bonds	Hope/Lifetime Learning	Personal Exemption
Education Loan Interest	IRA Deductibility	Roth IRA Eligibility