Tom,whose MAGI is $40,000,paid $3,500 of interest on a qualified student loan in 2016.Tom is single.He may deduct the $3,500 interest as an itemized deduction.

Name: Tom,whose MAGI is $40,000,paid $3,500 of interest on a qualified student loan in 2016.Tom is single.He may deduct the $3,500 interest as an itemized deduction.
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The student loan interest deduction is an adjustment to income, not an itemized deduction, and it is subject to income limits.

Tom,whose MAGI Is $40,000,paid $3,500 of Interest on a Qualified