Adjustments

Estimate the amount for any adjustments youyou and your spouse plan to take this year.

What are adjustments?

This estimator only supports some adjustments. There may be other adjustments that you qualify for, which could impact your estimate.

Student loan interest deduction

If you’re legally responsible for paying the interest on a qualified student loan, you can deduct up to in interest payments. The loan must be for you, your spouse, or your dependent.

This includes both required and voluntarily pre-paid interest payments.

Learn more about student loan interest. (opens in a new tab)

Educator expense deduction

If you're a K-12 educator, you can deduct up to of unreimbursed expenses in . If you're filing a joint tax return and both of you are educators, you can deduct up to .

Qualified expenses include:

• Professional development courses
• Books, supplies, computer equipment (including related software and services)
• Other equipment and supplementary materials that you use in the classroom

Learn more about educator expenses. (opens in a new tab)

Traditional (pre-tax) IRA deduction

If youyou or your spouse contribute to a traditional (pre-tax) IRA outside of your payroll contributions in , you may be able to claim a deduction.

Don’t include amounts that you already included on one of your jobs, contributions to Roth IRAs, or contributions to other retirement plans.

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Self-employed retirement plan deduction

If youyou or your spouse are self employed and make contributions to qualified retirement plans in , you may be eligible for the self-employed retirement plan deduction.

To qualify, youyou or your spouse must:

• Be a sole proprietor
• Be a working partner in a partnership, or
• Have a limited liability company

Eligible plans may include:

• Simplified Employee Pension (SEP) plan
• Savings Incentive Match Plan for Employees
• Solo-401(k)
• Other qualified retirement plans

Don't include Individual Retirement Arrangement (IRA) contributions.

You must use a special rule to calculate retirement plan contributions for yourself.

Learn more about self-employed retirement contributions. (opens in a new tab)

Health Savings Account (HSA) deduction

If youyou or your spouse contribute to an HSA outside of your payroll contributions in , you can claim a deduction.

Don't include amounts that you already included on one of your jobs.

Learn more about HSA contributions. (opens in a new tab)

Alimony paid deduction

If you're divorced or separated, you can deduct alimony paid in to a spouse or a former spouse under a divorce or separation instrument made before 2019.

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Penalty for early withdrawal of savings

If youyou or your spouse withdrew funds from a certificate of deposit or other deferred interest account before maturity, you may have been charged a penalty by your financial institution in . You can deduct the penalty amount.

Learn more about penalties for early withdrawals. (opens in a new tab)

Military and intelligence community moving expenses

You can deduct unreimbursed moving expenses paid in if:

• You'reYou or your spouse are a member of the Armed Forces on active duty and your move was due to a military order and a permanent change of station, or
• You'reYou or your spouse are an employee or new appointee of the intelligence community and your move was due to a change in assignment which required relocation

Learn more about military and intelligence community moving expenses. (opens in a new tab)

Certain business expenses

If you'reyou or your spouse are an Armed Forces reservist, qualified performing artist, fee-basis state or local government official, or employee with a disability and impairment-related work expenses, you can deduct expenses in that are:

• Common and accepted in your field of trade, business, or profession
• Helpful and appropriate for your business

Learn more about certain business expenses. (opens in a new tab)

Self-employed health insurance deduction

If you'reyou or your spouse are self employed and have a net profit for the year, you can deduct your health insurance premiums.

Eligible premiums are medical, dental, vision, and long-term care insurance. The policy can be for yourself, your spouse, and your dependents. The policy can also cover your child who is under the age of 27 at the end of the year, even if the child wasn't your dependent.

Learn more about self-employed health insurance. (opens in a new tab)