Can you deduct student loan interest on 1040a?
Asked By: Aric Ebert
Date created: Tue, Mar 23, 2021 5:25 AM
Date updated: Thu, Jun 23, 2022 7:19 AM
Video answer: 1040.com student loan interest deduction
Top best answers to the question «Can you deduct student loan interest on 1040a»
Paying back your student loan won't generate any tax breaks, but paying the interest on that student loan can, by reducing your income tax. The max deduction is $2,500 for your 2020 tax return. This max is per return, not per taxpayer, even if both spouses on a joint return qualify for the deduction.
Video answer: Student loan interest tax deduction