Important Changes for 2001

Standard mileage rate. Generally, if you drive your car to and from school, you can deduct 34 1/2 cents per mile. See Transportation Expenses under What Educational Expenses Are Deductible?

Limit on itemized deductions. If your adjusted gross income for 2001 is more than $132,950 ($66,475 if you are married filing separately), your itemized deductions may be limited. See the instructions for line 28 of Schedule A (Form 1040).

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