Student loan interest deduction taxes 2020
Whether you have private or federal student loans, the student loan interest deduction lets you reduce your taxable income up to $2,500 a year. Although you might only qualify for up to the amount For your 2019 taxes, which you will file in 2020, the student loan interest deduction is worth up to $2,500 for a single filer, head of household, or qualifying widow(er) with MAGI of less than $70,000.