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If I get a student loan interest deduction, is that on top of the standard minimum deduction? Or do I just end up getting the standard minimum regardless of what my loan deduction amount is?
I'm paying about $3,700 per year in student loan interest. I believe last year I got the standard minimum deduction because I don't have any other major deductions that would push it higher than that. Does this mean that even if I didn't pay that student loan interest, I'd have the same deduction amount regardless?
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‎June 3, 2019
1:26 PM