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Question

Student loan

Forum|Forum|5 years ago
February 1, 2021
1 reply
0 views

Do I have to report my student loan interest I paid? It’s only roughly $10 and I don’t think it is worth the hassle.

No, there is no requirement to report the student loan interest you paid during a tax year. The benefit of claiming the interest paid, is that the interest is usually subtracted from your total income before computing your Adjusted Gross Income (AGI), which reduces your taxable income.