Congresswoman Heather Wilson, First Congressional District of New Mexico
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Only 42 days until tax day. What’s the most you can deduct for student loan interest? |
March 07, 2000 |
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Answer: $1,500
For 1999 federal tax returns, you can deduct up to $1,500 for interest paid on a qualified student loan.
This can be done on schedule A of your federal return even if you don’t itemize your deductions.
For the 2000 tax year, the amount rises to $2,000. |
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