Navigating the complexities of student loan repayment is a significant challenge for many. Understanding the student loan interest deduction, and specifically the maximum allowable deduction, can significantly impact your tax burden and overall financial well-being. This guide provides a clear and concise explanation of the deduction, covering eligibility criteria, influencing factors, and potential pitfalls to help you maximize your savings. This exploration delves into the intricacies of the student loan interest deduction, examining how adjusted gross income (AGI), filing status, and other variables affect the maximum deductible amount. We’ll compare this deduction to other education-related tax benefits, providing a comprehensive Read More …