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New Member
posted Jun 6, 2019 1:02:46 AM

Is it worth it to claim $140 of student loan interest on my taxes?

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1 Best answer
Expert Alumni
Jun 6, 2019 1:02:47 AM

If you are in a 12% tax bracket, you would reduce you taxes by $17.  If you are in a 22% tax bracket it would reduce your taxes by $31.  If your state has a income tax, that would be affected to.  You will have to decide whether it's worth it or not.

1 Replies
Expert Alumni
Jun 6, 2019 1:02:47 AM

If you are in a 12% tax bracket, you would reduce you taxes by $17.  If you are in a 22% tax bracket it would reduce your taxes by $31.  If your state has a income tax, that would be affected to.  You will have to decide whether it's worth it or not.