Question : What is the maximum student loan interest you can reclaim on taxes per year?
For instance, if i pay $5,000 vs $10,000 in student loan interest, do I get a bigger tax break or more money back if I pay $10,000 vs $5,000? Or is it capped at a certain amount once you pay a certain amount of money?
- asked by lankee06
All Answers:
Answer #1
The student loan interest deduction is capped at$2500.
- answered by Amy F
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