Tax Tips and Benefits If You’ve Got Student Loans from H&R Block


H&R Block Presents: Tax Tips If You’ve Got
Student Loans A college education cost a lot of money. If you have loans, you’re not alone. Let’s talk taxes. Tip One. Make sure it’s a “qualified education
loan.” What qualifies? Well, if you took the loan to pay tuition,
room and board, or other related expenses for attending most post-high school educational
institutions, you should be good. Still not sure if the meal plan was worth
it? Neither are we. Tip Two. Loan interest is an “above the line” deduction
This is good for two reasons. It helps determine your adjusted gross income. Also, you don’t have to itemize the expense. Hey, one less thing to do. Tip Three. There’s a $2,500 cap. The maximum amount of student loan interest
you can deduct is $2,500. Sorry. That’s the rule. Even for PhDs. Tip Four. The deduction phases out. As you hopefully begin to make more money,
the deduction does start to “phase-out” as your income reaches certain thresholds. But hey, we suppose that’s good news, bad
news. Tip Five. Talk to Block. If you have more questions, which most people
do, we’re here to help. You can visit us online or in person. We’ll use every single advantage in the
tax code to get you every single dollar you deserve. Education leads to income, which leads to
taxes. Let us know how we can help.

2 comments on “Tax Tips and Benefits If You’ve Got Student Loans from H&R Block”

  1. evelyn daniel says:

    wait…you can get student loans from HRBlock?????

  2. evelyn daniel says:

    shouldn't the title be "Tax Tips & Benefits from HRBlock if you have Student Loans"  instead of "if you have got Student Loans from HRBlock "  ??? 

    (have got is not proper grammar, by the way)

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