Designate by an R is an item is a deduction FOR AGI or an M is an item is a deduction FROM AGI.
-Student loan interest

Question

Quizplus · Accepted Answer

Student loan interest is considered an adjustment to income, meaning it is deducted for AGI (Adjusted Gross Income), not from AGI. This allows taxpayers to lower their taxable income by the amount of interest paid on student loans, regardless of whether they itemize deductions or not.

Designate by an R Is an Item Is a Deduction