A previous debt owed to a college from 2012. I was able to pay it off using a portion of my 401K and release my transcripts and continue my education. Tax Deduction?

If you paid interest on your student loan in 2019, that amount is deductible. You should have gotten a 1098-E reporting any amounts.

Student loan interest is interest you paid during the year on a qualified student loan. It includes both required and voluntarily pre-paid interest payments. You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status.

You claim this deduction as an adjustment to income, so you don't need to itemize your deductions.

You can claim the deduction if all of the following apply:

• You paid interest on a qualified student loan in tax year 2019;
• You're legally obligated to pay interest on a qualified student loan;
• Your filing status isn't married filing separately;
• Your MAGI is less than a specified amount which is set annually; and
• You or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.