topic Can i carry over student loan interest deduction for next year if I paid more than the $2500 allowed deduction in 2016, or anything over $2500 is simply lost? Thank you! in Education

Can i carry over student loan interest deduction for next year if I paid more than the $2500 allowed deduction in 2016, or anything over $2500 is simply lost? Thank you!

daisyandtiger — Sat, 01 Jun 2019 02:07:46 GMT

No, you cannot carryover student loan interest in excess...

HelenaC — Sat, 01 Jun 2019 02:07:46 GMT

No, you cannot carryover student loan interest in excess of $2,500. Per IRS tax code, the maximum deduction is $2,500, if you qualify. See the screenshot below.

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So I was better off investing every $ that I spent repayi...

jzyhowski — Sat, 01 Jun 2019 02:07:48 GMT

So I was better off investing every $ that I spent repaying loans after 2,500? And waiting to pay until the following year? That way the money I invested would have earned more interest than what was accrued during that time on my loans AND I would have saved money the following year.