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2. Are College Tuition and Education Expenses Tax-Deductible?

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   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.

3. Paid your student loans in 2023? You could qualify for this ...

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   February 1, 2024 at 8:30 AM. ... You can take the student loan interest deduction even if you don’t itemize deductions. That’s because it’s claimed as an adjustment to income.

4. How Restarting Student Loan Payments Will Benefit Your Taxes

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   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.

5. How Can I Reduce My Taxes? Your Tax Questions, Answered - AOL

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   Qualified filers can take a student loan interest deduction of up to $2,500 atop the standard deduction. Most private and federal student loans are fair game. Learn More:

6. Tax Credits or Tax Deductions: Which Will Save You More? - AOL

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   Here’s what to know about the differences between tax deductions and tax credits ... Student loan interest. ... The nonrefundable child tax credit is worth $2,000 per eligible child in 2024.

7. What to Know About the Student Loan Interest Tax Deduction - AOL

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   In addition, Form 1098-E, which is the student loan interest statement, is due at the same time to anyone who paid $600 or more in student loan interest in the previous year. Despite discussions ...