Message Font: Serif | Sans-Serif
No. of Recommendations: 0
You can take a deduction of student loan interest on 1040A and 1040 for a maximum amount if you fit within a few qualfications.

You take the deduction before you ever get to itemized deductions or standard deductions choices. And its actually classified as an Adjustment to Gross Income on the Form. See line 24 in 1040 or line 16 in 1040A.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.