Credits we check · United States

Did you miss the student loan interest deduction?

RefundSift checks your United States tax situation for the student loan interest deduction. Here is what it is, in plain language, with links to the official IRS pages.

Who qualifies

• You paid interest on a qualified student loan and are legally obligated to pay it.
• You do not file married filing separately, nobody claims you as a dependant, and your MAGI is under the yearly limit.

How much

Deduct the lesser of $2,500 or the interest you actually paid. It is an adjustment to income, so you do not need to itemize. Lenders send Form 1098-E if you paid $600 or more.

How far back you can claim

To claim a refund on Form 1040-X, the IRS says you generally must file within 3 years after the date you filed the original return, or 2 years after the date you paid the tax, whichever is later.

Official sources

• Topic 456, Student loan interest deduction (IRS)
• File an amended return (IRS)

Not tax advice. This page is general information based on the official sources above, which can change. Rules and amounts depend on your full situation and the tax year. Check the official source or a qualified professional before you claim.