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Level 1
June 3, 2019
Solved

Student Loan Interest Deduction

  • June 3, 2019
  • 1 reply
  • 8 views
For my student loan interest deduction you only deducted $1,168 I thought the maximum deduction was $2,500.. I had paid 3,500 in interest over this year
Best answer by IsabellaG

You may be subject to the income limitations on this deduction. If you have a modified adjusted gross income between $65,000 and $80,000 (or $130,000 to $160,000 for married filing jointly), the deduction is phased out, until you reach the upper limit, and you have no allowable deduction.

1 reply

IsabellaG
IsabellaGAnswer
Level 13
June 3, 2019

You may be subject to the income limitations on this deduction. If you have a modified adjusted gross income between $65,000 and $80,000 (or $130,000 to $160,000 for married filing jointly), the deduction is phased out, until you reach the upper limit, and you have no allowable deduction.

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