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Student Loan Interest and Your Taxes- Deducting Student Loan Interest

Authored By: IRS

If your modified adjusted gross income (MAGI) is less than $80,000 ($160,000 if filing a joint return) there is a special deduction allowed for paying interest on a student loan (also known as an education loan) used for higher education.

Link: www.irs.gov

Last Review and Update: Apr 20, 2016