Adjustments to Income

Student Loan Interest

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Deduction Limits

Case Study

Rick, who files as Head of Household, paid $2,650 in qualified interest on his student loan. His total income, Form 1040, line 22, is $35,000. He has no other adjustments on lines 23 through 35.

How would you complete the first four lines on Rick's Student Loan Interest Deduction Worksheet?

Line 1 (Interest on qualified student loans)	?
Line 2 (Total income)	?
Line 3 (Other adjustments)	?
Line 4 (MAGI)	?

Photo of Rick with Form 1040, which shows $35,000 entered on lines 22 and 37

Main Menu

Introduction
Educator Expenses
Self-Employment Tax
- Deductible Portion of Self-Employment Tax
Penalties for Early Withdrawal
Alimony Paid
- Who is Eligible?
- Obtaining the Information
IRA Contributions
Student Loan Interest
Tuition and Fees
Other Adjustments to Income
- Jury Duty Pay Given to Employer
- Adjusted Gross Income
Practice - Vanessa Franklin
- Practice
Out of Scope
- Out of Scope Situations for VITA/TCE
Summary and Exercises
- Summary
- Practice Lab
Conclusion
- Conclusion

Student Loan Interest Deduction Worksheet

Student Loan Interest Deduction Worksheet