Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Adjustments to Income

Adjustments to Income

Four Adjustments to Income (continued)

Student Loan Interest Deduction

Taxpayers who paid interest on a student loan during the tax year may be able to deduct up to $2,500 of the interest paid. Taxpayers who paid $600 or more in interest to a single lender should have a statement from the lender showing the amount of interest paid.

Alimony Paid

Taxpayers who paid alimony to a resident of Puerto Rico during the tax year may deduct their payments regardless of whether the recipient reports their income.

More Information

These deductions are considered as not definitely related to a specific type of income and will be subject to the allocation required by Section 933. For more information and special instructions, see Publication 1321.

Adjusted Gross Income section of Form 1040 with lines 31a and 33 highlighted.