Question
Is there a cap on how much money I can make and still claim student loan interest? Can I claim my student loan if I exceed the maximum income?
Answer
You can claim student loan interest on your taxes, however the student loan interest deduction begins to phase out if your adjusted gross income (AGI) is:
- $80,000 if filing single, head of household, or qualifying widow(er)
- $165,000 if married filing jointly
The deduction is completed phased out if your AGI is:
- $80,000 if filing single, head of household, or qualifying widow(er)
- $160,000 if married filing jointly
Related Resources
Do I Get Credit for Taxes I Paid to Another State?
Find out if you’re eligible for a resident credit after paying taxes to another state with the experts at H&R Block.
Michigan Tax Rate
Do you earn wages in Michigan? Learn more about Michigan state tax rates, with help from the tax pros at H&R Block.
Rules for Dependents who Live at Home
Does your child make more than $4,000 but still live at home? Discover if they qualify as a dependent on your taxes. Get tax answers from H&R Block.
Filing for a Deceased Taxpayer
If you need help handling an estate, we're here to help. Learn how to file taxes for a deceased loved one with H&R Block.
