Student loan interest
Up to $2,500
Can I Deduct Student Loan Interest?
Short answer: Yes, up to $2,500 of student loan interest a year is deductible above the line, even if you don't itemize.
The deduction phases out at higher incomes and isn't available if you file married filing separately.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
Student loan interest
Typical range: Up to $2,500
Individuals / Personal Taxes
Yes, up to $2,500 of student loan interest a year is deductible above the line, even if you don't itemize.
Business justification
Yes, up to $2,500 of student loan interest a year is deductible above the line, even if you don't itemize. The deduction phases out at higher incomes and isn't available if you file married filing separately.
Category
- Personal Tax Deductions