You need to know the newest education loan taxation deduction has its constraints

You need to know the newest education loan taxation deduction has its constraints

A typical myth throughout the figuratively speaking is you need to keep them on tax split, which might be enough reason to put new college loans within the conclusion your own repayment goals.

Brand new taxation deduction is bound so you’re able to $2,five hundred off student loan interest you have to pay. It also actually starts to phase away should your earnings has reached $70,one hundred thousand that will be eliminated in the an altered gross income (AGI) out-of $85,one hundred thousand (otherwise $140,one hundred thousand and you may $170,000, respectively, for folks who file a shared return) annually. (more…)

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