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Student Loan Interest...
Posted on 1/13/10 at 9:23 am
Posted on 1/13/10 at 9:23 am
Calling all the Accounting type..
Can someone tell me the income threshold for making deductions for student loan interest.
Can someone tell me the income threshold for making deductions for student loan interest.
Posted on 1/13/10 at 9:47 am to UnTamedTiger
For 2009 the maximum deduction is $2,500. The deduction begins to phase out at $120,000 of modified adjusted gross income for those filing married filing joint, and at $60,000 for those filing single. No deduction is allowed for married filing joint with modified adjusted gross income of $150,000 or more. For single filiers no deduction is allowed for those with modifies adjusted gross income of $75,000 or greater.
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