Tom, whose MAGI is $40,000, paid $3,500 of interest on a qualified student loan in 2018. 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 2018. 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 is subject to a limit of $2,500 per year.

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