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C
christophermcvay
Employee
June 1, 2019
Question

My student loan interest deduction was 2500, however this was not applied to my federal refund. Why?

  • June 1, 2019
  • 2 replies
  • 0 views
I paid over 17K in student loan interest just for my private student loan. I applied this to my taxes and it said I would gain a deduction of 2500, however this has not been applied to what is being shown. Why is it not being added?

2 replies

C
Celery63
June 1, 2019
That is a deduction, it is not an amount that you get back. It reduces your tax by reducing your taxable income.
S
SweetieJean
Employee
June 1, 2019

A deduction is a subtraction from income, before the taxes are calculated. It is not added to your refund.

See Form 1040 line 33

https://www.irs.gov/pub/irs-pdf/f1040.pdf

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