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You can deduct student loan interest if your name is on the loan and are not being claimed as a dependent by someone else.
Here is a short IRS tax topic on the subject: Student Loan Interest - IRS summary
You should receive a form 1098-E from the lender. Enter it by going to:
- Federal Taxes
- Go to the Deductions/Credits
- Scroll down to Education and select " Student Loan Interest Paid".
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