Student loan interest deduction
If you are both suffering from student loan debt and are not making too much money (what a rare case), you can deduct some of the interest you paid! But not too much.
You can deduct a maximum of $2,500, so if you paid more than than, you lose out.
Note: if you are married filing separately, this does not count. Sorry.
To help improve the meaning of these lyrics, visit “1040” by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax) and leave a comment on the lyrics box