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The loan was for a dependent: If you took out a loan in your own name for someone else like a child or other dependent, you can take the student loan interest deduction.
The ability to deduct student loan interest isn’t automatic, however; you must meet certain qualifications. If you’re paying down your student loan debt, you know your total monthly payments ...
Student loan holders receive an important tax break in the form of the student loan interest deduction. Per the IRS, when you pay interest on a qualified student loan, either through voluntary or ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
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. It’s the “above the line” adjustment to your adjusted gross income ...