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

Adjustments to Income Workout

Student Loan Interest

Case Study 1: What is the Deduction?

Robert has taken his first job after completing law school. His filing status is Single. He paid $3,000 in interest on his student loans during the tax year. With all adjustments to income (except student loan interest adjustment), his MAGI is below the MAGI limits. He can deduct $2,500 of his student loan interest as an adjustment to income.

Review the Student Loan Interest Deduction At a Glance section in the Volunteer Resource Guide, Tab E, Adjustments.

Click here for an explanation.

Student Loan Interest Deduction at a Glance

Student Loan Interest Deduction at a Glance