What are the eligibility requirements to deduct my student loan interest?

You are eligible to deduct student loan interest if you meet the following criteria:

1. - For the filing year, you paid interest qualifying student loans

2.  

   - You are required to pay the interest

3.  

   - You are not filling separately from your spouse if married

4.  

   - You and/or your spouse cannot be claimed at dependents on another’s return

- You do not exceed the income thresholds (single $85,000, $170,000 married filing jointly)
Be advised that once you meet incomes of $70,000 for single filers and $140,000 for married
filing jointly filers, your deduction amount begins to reduce.

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