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Student Loan Interest Deduction

You can claim the deduction if all of the following apply:

- You paid interest on a qualified student loan in tax year 2023;

- You're a full time student and a degree candidate (if you have already graduated during 2023, you cannot claim the student loan interest) ;

- Your filing status isn't married filing separately;

- Your student loan is from a US bank

- Your MAGI is less than a specified amount which is set annually;

Please keep in mind that if you do NOT meet even one of those conditions, the sub-step related to the Student Loan Interest would not appear on Step 4 - Offset your expenses

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