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?

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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.

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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.