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

Answer

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
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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
http://wiki.answers.com/Q/What_is_the_maximum_inco...
If you are single with no children the income cap is $12,880, $33,9...
http://www.chacha.com/question/what-is-the-annual-...
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
http://answers.yahoo.com/question/index?qid=200804...
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