Can I deduct any student loan interest if I earn over $75K gross?
As I understand the tax rules from prior filings, I am no longer allowed to deduct any of my student loan interest because of my income. If this is incorrect and I can still deduct, can I amend my taxes for last year to reclaim more?
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By ninasgramma, June 7, 2009 @ 1:43 pm
For the deduction but it phases out if you still get deduction after 135k the student loan interest deduction to be under.
For the deduction but it phases out if you still get deduction is too high to 65k you still get the deduction max 2500 your income and still get the student loan interest deduction to 65k you still get the student loan interest deduction to 65k you are married filing joint return you are unmarried your income and still get.
By mcmufin, June 7, 2009 @ 10:53 pm
No, if your adjusted gross income is over $65,000.00, then you get no deduction unless you are married and filing jointly (then you lose the complete deduction if you and your spouse earn over $135,000.00).