May 29th, 2015
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Ch.443. What are some of the limitations concerning deductibility of student loan interest? Be specific and comprehensive.An individual can take a deduction for an amount equal to the interest paid by the taxpayer during the taxable year on any qualified education loan. Only the person legally obligated to make the interest payments can take the deduction. A person who is claimed as a dependent on another persons return cannot claim the deduction, not can persons whose filing status is married filing separately. The amount of this deduction is limited to $2,500 per year. The deducti

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