If I get a student loan interest deduction, is that on top of the standard minimum deduction? Or do I just end up getting the standard minimum regardless of what my loan deduction amount is?

[kagedtiger]

I'm paying about $3,700 per year in student loan interest. I believe last year I got the standard minimum deduction because I don't have any other major deductions that would push it higher than that. Does this mean that even if I didn't pay that student loan interest, I'd have the same deduction amount regardless?

[Phillip1 · Accepted solution]

The student loan interest deduction is separate from the standard deduction - you claim student loan interest regardless of whether you use the standard deduction or itemize.

Keep in mind the maximum student loan interest deduction is 2,500 dollars.