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I paid $1,434 in student loan interest, why only $41deduction?
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@vanessab_93 there is a phase out based on your income.
"Student loan interest deduction. For 2024, the amount of your student loan interest deduction is gradually reduced (phased out) if your MAGI is between $80,000 and $95,000 ($165,000 and $195,000 if you file a joint return). You can’t claim the deduction if your MAGI is $95,000 or more ($195,000 or more if you file a joint return)."
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