Question: What is the Student Loan Interest Deduction Phaseout Amount?
Answer: You can deduct a maximum of $2,500 in student loan interest from your income if you meet the following income requirement:
[table “” not found /]Basically, if you’re filing as single with MAGI income of $65,000 you can take the full student loan interest deduction of $2,5000. You do not qualify for student loan interest deduction once you MAGI income exceeds $80,000 if you file as single.
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