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The ability to deduct student loan interest isn’t automatic, however; you must meet certain qualifications. If you’re paying down your student loan debt, you know your total monthly payments ...
Student loan holders receive an important tax break in the form of the student loan interest deduction. Per the IRS, when you pay interest on a qualified student loan, either through voluntary or ...
You paid interest on a qualified student loan in tax year 2023. You’re legally obligated to pay interest on a qualified student loan. Your filing status isn’t married filing separately.
If you take out student loans to pay for college, you might qualify for the student loan interest deduction. This deduction allows you to reduce your taxable income by up to $2,500 per year.
Your modified adjusted gross income is calculated on your federal tax return before any student loan interest deduction is made. ... Qualified filers can take a student loan interest deduction of ...
• Student loan interest deduction. If you've taken out a federal or private student loan, you're eligible to deduct up to $2,500 worth of interest paid on the loan as an "above-the-line ...
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