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Then you might be able to deduct up to $2,500 worth of the interest you paid for either a federal or private student loan — or both. You can claim the deduction on your federal income tax return ...
Some welcome news for student loan borrowers: House lawmakers introduced a bill in Congress last month to expand the existing student loan interest deduction from $2,500 in annual interest to $10,000.
If you take out student loans to pay for college, you might qualify for the student loan interest deduction. This deduction allows you to reduce your taxable income by up to $2,500 per year.
There’s a deduction you can take when filing your taxes if you paid student loan interest. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ...
In addition, Form 1098-E, which is the student loan interest statement, is due at the same time to anyone who paid $600 or more in student loan interest in the previous year. Despite discussions ...
The student loan interest tax deduction is for students and their parents who are repaying federal student financial aid. ... Continue reading → The post Student Loan Interest Deduction 2021 ...