Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
zruhland
New Member

Is the max deduction for student loan interest $2500, even if filling jointly and both individuals have more than $5000 in student loan interest paid?

 
1 Best answer

Accepted Solutions
rjs
Level 15
Level 15

Is the max deduction for student loan interest $2500, even if filling jointly and both individuals have more than $5000 in student loan interest paid?

Yes, the maximum student loan interest deduction on a joint tax return is $2,500, even if both people paid interest on student loans. The $2,500 maximum is per tax return, not per person.

View solution in original post

1 Reply
rjs
Level 15
Level 15

Is the max deduction for student loan interest $2500, even if filling jointly and both individuals have more than $5000 in student loan interest paid?

Yes, the maximum student loan interest deduction on a joint tax return is $2,500, even if both people paid interest on student loans. The $2,500 maximum is per tax return, not per person.

Dynamic AdsDynamic Ads
Privacy Settings
v