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    carl171966's Avatar
    carl171966 Posts: 5, Reputation: 1
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    #1

    Oct 13, 2006, 10:07 AM
    Interest from student loans
    Can a qualified student loan interest paid be deducted even if taxpayer does not itemize deductions?:)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Oct 13, 2006, 10:52 AM
    Yes. The student loan interest deduction is an adjustment to income that can be claimed on Page 1 of Form 1040 or 1040A.
    cbmb's Avatar
    cbmb Posts: 43, Reputation: 3
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    #3

    Oct 13, 2006, 11:34 AM
    Student Loan Interest Deduction is an adjustment to income, contributing to your final AGI. It does not have to do with itemizing. However, if your income exceeds 65k forget it - you won't get anything for it. :o
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Oct 13, 2006, 11:50 AM
    Yes, it is my turn for mea culpa!

    I forgot the income limits as noted above. It's $130K if you are married and filing jointly!
    Tricky1549's Avatar
    Tricky1549 Posts: 126, Reputation: 2
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    #5

    Jun 5, 2007, 03:43 AM
    Is that adjusted gross income?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #6

    Jun 5, 2007, 04:16 PM
    Yes
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