was the loan consolidated in 2005? or had it previously been in deferral because she is still a student but has now entered repayment?in my case, i consolidated my loans in 2005. in doing so all of my non-capitalized, accrued interest capitalized into my new consolidated loan. all of this interest was listed in box 1 and was fully deductible to the extent possible according to my AGI and deduction limit. iirc, i think the AGI phaseout begins at $50,000, and overall i think the maximum deduction is $2500. if her AGI is less than 50k, she should be able to deduct all the interest up to $2500.
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