What are the limits for deducting interest paid on a student loan? ALABAMA'S SERVICE

The maximum deductible interest on a qualified student loan is $2,500 per return.
There is no deduction if any one of the following is true:

• You file as married filing separately,
• You are claimed as an exemption on someone else’s return,
• The loan is from a related party or a qualified employer plan,
• You are not legally obligated to pay interest on a qualified student loan, or
• You did not pay interest on a qualified student loan.

There are limits based on your filing status and adjusted gross income

MOORE'S SERVICE, LLC

2160 Green Springs Hwy, S. Suite E. 

Brimingham, AL 35205

Phone: (205) 324-8753

Email: mooresservices1@gmail.com

Website: www.mooresservicesonline.com

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