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Q: How do I reflect this on my 2015 tax return?
A: You take the repayment deduction on Line 23 of Schedule A, which lists itemized deductions that can be subtracted from your adjusted gross income. This rather obscure deduction is not broken out on the form; it simply comes under "Certain Miscellaneous Deductions." You must list the type and amount of each miscellaneous deduction using an attached sheet if necessary. Miscellaneous deductions, when combined, must be greater than 2 percent of your adjusted gross income to be deductible.
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