I uploaded my 1098-E form, my total interest paid last year 2024 was $2,489.00, however I was told I did not qualify for a deduction.Please explain why I don't qualify?

Forum|Forum|1 year ago
January 20, 2025
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Total Interest Paid in 2024$2,489.00 My income is $96,000

xmasbaby0

Employee

What is your filing status? If you are filing married filing separately you cannot get the student loan interest deduction.

https://www.irs.gov/help/ita/can-i-claim-a-deduction-for-student-loan-interest

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MayaD

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).

See Tax Benefits for Education chapter 4.

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