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April 10, 2022

You cannot deduct the total amount paid on your student loans. But if your income is not over the limit, you may deduct up to $2,500 in student loan interest paid. 

If your MAGI is $70,000 ($140,000 if filing jointly), the student loan interest is deductible up to the maximum of $2,500;

If your MAGI is between $70,000 and $85,000 ($170,000 if filing jointly), you can deduct less than the maximum of $2,500.

Student loan interest received from you by your lender is reported on Form 1098-E. 

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Hal_Al
Employee
April 10, 2022

If you can be claimed as a dependent, on someone else's tax return, you are not allowed to claim the student interest deduction.