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Can Student Loan Interest Be An Itemized Deduction On Your Taxes?

The Student Loan Deduction allows you to deduct up to $2500. In 2007 I paid well over $2500 in interest and obviously want to take advantage of this.

This entry was posted on Saturday, December 19th, 2009 at 5:57 am and is filed under วงการศึกษา. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

4 Responses to “Can Student Loan Interest Be An Itemized Deduction On Your Taxes?”

  1. Student loan interest is not an itemized deduction line item, but rather a deductin on the face of your tax return.
    It is subject to income limitations however, so follow the worksheets to ensure you can take the deduction. Below is a link to help you.

  2. Student loan interest is an adjustment, you don’t have to itemize to claim it. It goes on the front page of the tax return as an adjustment.

  3. It’s better than an itemized deduction. Assuming you are within the income limits to deduct it, you put it in the Adjustments section of your return, so you don’t even have to itemize to take it.

  4. Bostonian In MO on December 19th, 2009 at 8:10 pm

    It’s an above the line adjustment, not an itemized deduction. The limit is $2,500, however, so if you paid more than that you get no benefit from the excess.