It is correct. From the information provided, you are ineligible for the Student Loan Interest Deduction.
When your employer provides a taxable benefit, this benefit is included in your income. The MAGI calculation cannot be adjusted. Therefore, as a single taxpayer, if your MAGI is greater than $80,000, then the Student Loan Interest Deduction is eliminated by the phaseout.
MAGI is the adjusted gross income as figured on your federal income tax return before subtracting any deductions.
See the TurboTax FAQ below for additional information. Click "See entire answer" for the full page view.
