To deduct student loan interest on your income tax return, what is the maximum allowable annual income?


For a married person - $120,0000-$150,000. Over $150,000, no deduction. For a single person - half of this, so $60,000-$75,000. Over $75,000, no deduction. These are the federal guidelines for maximum allowable income and deducting student loan
Q&A Related to "To deduct student loan interest on your income..."
If the student is under 24 at the end of the year or is totally and permanently disabled, there is no limit. But the student must not provide more than half of his/her own support
If you are single with no children the income cap is $12,880, $33,9...
You send it to the address pre-printed on the return. Or you can submit it online, if you're registered. Source(s): Accountant 40 years
Explore this Topic
You’ll need to fill in a tax return if you are self-employed, a business partner, director of a limited company or an employee/pensioner with an annual income ...
Television tax is paid in France and TV licence is paid as part of the annual taxe d'habitation. Television sets are usually declared on your income tax return ...
About -  Privacy -  AskEraser  -  Careers -  Ask Blog -  Mobile -  Help -  Feedback © 2014