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I was wondering for itemized deductions line 23 other

Hi, I was wondering...

Hi, I was wondering for itemized deductions line 23 other expenses, can I put student loan interest paid on this section?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Line 23 is other expenses, I believe last year the tax people put it there and I was wondering if that's ok?

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Answered in 6 minutes by:
2/2/2017
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 889
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question.

Just on a side note - You can deduct up to $2,500 of student loan interest paid in a given year. As with many tax rules, there is an income limit to this deduction. Your modified adjusted gross income cannot be more than $80,000 (or $160,000 for married couples filing jointly).

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Hi. Confirming the line #

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Customer reply replied 1 year ago
It's line 23 on Schedule A

Hi. It is line 33 on your 1040.

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Let me know if you have any questions. Thank you.

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Customer reply replied 1 year ago
Thanks

You are very welcome. Have a great day.

ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 889
Experience: Business Consultant/Accounting Manager
Verified
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