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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.
Qualified education expenses for the student loan tax deduction include tuition, fees, room and board, books, supplies and equipment. ... If you paid more than $600 in student loan interest during ...
Although borrowers were granted a stay of student loan payment since the start of the pandemic in March of 2020, many vulnerable borrowers will struggle to pay their bills when payments resume on...
One trap that student loan holders should avoid when filing their taxes in 2023, however, is that most of them didn’t pay any student loan interest during 2022. As most student loan payments ...
For tax year 2020 (filing in 2021), the student loan interest deduction was worth as much as $2,500 for a single filer, head of household or qualifying widow/widower with a MAGI of under $70,000.
Some welcome news for student loan borrowers: House lawmakers introduced a bill in Congress last month to expand the existing student loan interest deduction from $2,500 in annual interest to $10,000.
“If you are currently paying off a student loan, you can deduct the interest you paid, and this amount is indicated on form 1098-E," Alajian said. Barnes noted that students with income less ...
But thankfully, now there's a benefit that student loan borrowers can claim... Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ...