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Education
You can claim the deduction if all of the following apply:
- You paid interest on a qualified student loan in the tax year 2019.
- You can take the deduction as a parent making payments on your dependent student’s loan.
- Your filing status isn't married filing separately.
- Your MAGI is less than $170,000 for married filing jointly, $85,000 for single and head of household filers.
A qualified student loan is a loan you took out solely to pay qualified higher-education expenses that were:
- For you, your spouse, or a person who was your dependent when you took out the loan.
- For education provided during an academic period for an eligible student.
- Paid or incurred within a reasonable period of time before or after you took out the loan
Please see this link for more details: Can I claim my Student Loan?
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March 24, 2020
2:48 PM