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Federal student loan debt increased 267.1% between 2006 and 2023, according to the Education Data Initiative. In December, the House introduced legislation to increase the deduction limit to ...
Also, you should note that there are income limits for the student loan interest deduction as well. Singles with incomes above $85,000 or joint filers with incomes above $170,000, for example, do ...
Then you might be able to deduct up to $2,500 worth of the interest you paid for either a federal or private student loan — or both. You can claim the deduction on your federal income tax return ...
IRA deduction. Student loan interest ... you qualify for tax credits such as the Earned Income Tax Credit. For example, for the 2023 tax year, if you’re married filing jointly and have two ...
This deduction applies to both federal and private student loans, although many federal student loan borrowers won’t have paid interest during the current payment moratorium. 4. Health Savings ...
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