Student Loan Interest Deduction Qualifications
Article ID: IAS10075
- Not available to married taxpayers filing separately.
- Not available to taxpayers who are claimed as dependents (listed on line 6c of Form 1040) on another taxpayer’s return.
- The taxpayer must be legally obligated to repay the loan and actually pay the interest during the tax year to deduct the interest.
- Interest on a loan from a related person or from a qualified employer plan [for example, 401(k) plan or IRA] do not qualify.