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
IRS E-File Rejection Grace Period
Learn more about the IRS e-file rejection grace period that applies to returns filed on time but end up being rejected.
Deduct School Related Travel Expenses
Learn more about deducting school related travel expenses with advice from the tax experts at H&R Block.
Tax Implications of Starting a New Business
The startup tax or new business tax is a topic many new business owners shy away from. Our tax pros provide business tax tips so you don't get caught off-guard.
[UPDATED] How to Choose Between Marketplace Plans for Health Insurance
Marketplace health insurance options fall into five categories. Which one is right for you? Learn more at H&R Block.
