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tcolbert
New Member

Can i deduct the interest on student loans

 
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MargaretL
Expert Alumni

Can i deduct the interest on student loans

Yes, you can deduct the student loan interest if you meet all qualifications below:

  • You paid interest on a qualified student loan
  • You are legally obligated to pay interest on a qualified student loan
  • Your filing status is not married filing separately
  • Your modified adjusted gross income is less than a specified amount which is set annually, and
  • You and your spouse, if filing jointly, cannot be claimed as dependents on someone else’s return.

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