Tom, whose MAGI is $40,000, paid $3,500 of interest on a qualified student loan in 2019.He is single and may deduct the $3,500 interest as an itemized deduction.

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The deduction for student loan interest is an adjustment to income, not an itemized deduction, and it can be claimed regardless of whether the taxpayer itemizes deductions or takes the standard deduction.

Tom, Whose MAGI Is $40,000, Paid $3,500 of Interest on a Qualified