To qualify for the student loan interest deduction, you must meet the following criteria:
- Not filing a married filing separate return
- Not be claimed as a dependent on someone else's return
- The Modified Adjusted Gross Income (MAGI) is below $80,000, not exceeding $95,000 ($165,000 and $195,000 if married filing jointly).
Per the IRS, "The amount of your student loan interest deduction is gradually reduced (phased out) if your MAGI is between $80,000 and $95,000 ($165,000 and $195,000) if you file a joint return). You can't claim the deduction if your MAGI is $95,000 or more ($195,000 or more if you file a joint return).
See the link below for more information on the Student loan deduction:
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