A tax deduction for me is interest paid on fed student loans; is there an income cap on this deduction ?

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A tax deduction for me is interest paid on fed student loans; is there an income cap on this deduction ?

2006-12-09 01:09:20 · 3 answers · asked by Paul S 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

Check this out:

http://www.irs.gov/faqs/faq-kw187.html

2006-12-09 05:29:42 · answer #1 · answered by AK 5 · 0⤊ 0⤋

I think i read somewhere that the deduction for paid interest on student loans is phased out at 60,000. It is somewhere around 100,000 if you are married.

2006-12-13 06:58:25 · answer #2 · answered by davidm_42 2 · 0⤊ 0⤋

Yes. See the link below. It's for 2005. I cannot find a link to 2006 yet.

2006-12-09 13:31:07 · answer #3 · answered by skip 6 · 0⤊ 0⤋