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Level 2
June 1, 2019
Question

I am single with no dependents and no one can claim me. Is the student loan interest credit worth upgrading to deluxe?

  • June 1, 2019
  • 3 replies
  • 25 views
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3 replies

Level 15
June 1, 2019
What is your taxable income?
Level 15
June 1, 2019

If single, your tax will drop by 22% of the amount of interest you report.  If married, your tax will drop by 12% of the interest amount.  Deluxe online is about $100 including a state, so see if your deduction is more than the cost. 

You can also file using the Deluxe software installed on your own computer for around $50, depending on the discount you get if you buy at Amazon, Costco, Best Buy, or similar retailers.  

jsaalmanAuthor
Level 2
June 1, 2019
58083.16