Navigating the complexities of student loan debt can feel overwhelming, but understanding the potential tax benefits available can significantly ease the burden. This guide delves into the student loan interest deduction, a valuable tool for taxpayers aiming to reduce their tax liability. We’ll explore eligibility criteria, calculation methods, and strategies for maximizing your deduction, ultimately empowering you to make informed financial decisions. From understanding the income limitations and modified adjusted gross income (MAGI) thresholds to mastering the calculation process and navigating different repayment plans, we’ll provide a comprehensive overview. We’ll also address common misconceptions and pitfalls, ensuring you confidently claim Read More …