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Friday, December 24, 2010

Student Loan Interest Deductible Toward AGI

Up to $2,500 of student loan interest can be deducted above-the-line (Adjusted Gross Income is the line).  Thus this interest is deductible for those utilizing the standard deduction.  Also, the previous elimination of a 60-month rule remains eliminated through the year December 31, 2012.

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