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April 5, 2022
Question

Do I qualify for any tax breaks from post-graduate loans if I don't have a Form 1098-T

  • April 5, 2022
  • 1 reply
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1 reply

April 5, 2022

Yes if paid any student loan interest you may be able to deduct it.  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.