Education

No.   You cannot use more student loan interest as an itemized deduction on Schedule A, if that is what you are asking.

 

The student loan interest deduction can reduce your taxable income by up to $2500.

 

There is a phaseout for the Student loan interest deduction, which means the amount you can deduct gets reduced when your modified adjusted gross income hits certain income levels and is even eliminated at certain income levels -  

•If your filing status is single, head of household, or qualifying widow(er), then the phaseout begins at a MAGI that may be set annually   You cannot deduct student loan interest if you can be claimed as a dependent or if you file married filing separately.

 

 

 

 Enter the interest you paid for your student loan by going to Federal>Deductions and Credits>Education>Student Loan Interest Paid in 2024 (Form 1098E)

 

 

 

 

https://www.irs.gov/pub/irs-pdf/p970.pdf

 

 

https://www.irs.gov/help/ita/can-i-claim-a-deduction-for-student-loan-interest

 

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