Two Student loans. Reached max benefit on interest paid with one. Do I need to list interest paid on 2nd loan even if paid less than $600 in interest in 2021?
Two Student loans. Reached max benefit on interest paid with one. Do I need to list interest paid on 2nd loan even if paid less than $600 in interest in 2021?
No, you do not have to enter additional student loan interest if you have deducted the max. 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.