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Its a deduction from income. It lowers your income by $537, that's not a refunded amount., $75 additional refund on a $527 reduction of income sounds reasonable.
Its a deduction from income. It lowers your income by $537, that's not a refunded amount., $75 additional refund on a $527 reduction of income sounds reasonable.
Yes, this sounds right.
The student loan interest deduction is a deduction which reduces your taxable income, and not a credit which reduces your tax liability dollar for dollar.
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