Author Topic: Calculating student loan interest deduction  (Read 1436 times)

lbonga1

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Calculating student loan interest deduction
« on: November 25, 2018, 02:39:45 PM »
I think this will be the last year that I qualify for the student loan interest deduction, and I think I'll be somewhere in the phaseout range, so I want to make sure I'm calculating correctly. To get my MAGI, I take my gross income and deduct pre-tax deductions (401k, and healthcare and dependent care FSAs)...do I deduct anything else? The standard deduction, child credits, etc. aren't included right?

walkwalkwalk

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Re: Calculating student loan interest deduction
« Reply #1 on: November 25, 2018, 02:51:50 PM »
Probably not (don't know your full tax situation), no

lbonga1

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Re: Calculating student loan interest deduction
« Reply #2 on: November 25, 2018, 03:35:54 PM »
Thank you.

MDM

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Re: Calculating student loan interest deduction
« Reply #3 on: November 25, 2018, 03:36:16 PM »
You can check the calculations in the case study spreadsheet.

Cells Calculations!M49 and Calculations!D51 may be of interest.