skip navigation
Search Help
Navigation Help

Tax Map Index

Tax Topic Index

Affordable Care Act
Tax Topic Index

Exempt Organization
Tax Topic Index

Tax Topics

About Tax Map Website
Publication 970

Claiming the Deduction(p34)

The student loan interest deduction is an adjustment to income. To claim the deduction, enter the allowable amount on line 33 (Form 1040), line 18 (Form 1040A), line 33 (Form 1040NR), or line 9 (Form 1040NR-EZ).
Pencil Worksheet 4-1. Student Loan Interest Deduction Worksheet
Use this worksheet instead of the worksheet in the Form 1040 instructions if you are filing Form 2555, 2555-EZ, or 4563, or you are excluding income from sources within Puerto Rico. Before using this worksheet, you must complete Form 1040,lines 7 through 32, plus any amount to be entered on the dotted line next to line 36.
 1.Enter the total interest you paid in 2016 on qualified student loans. Don't enter
more than $2,500
 2.Enter the amount from Form 1040, line 222.  
 3.Enter the total of the amounts from Form 1040,
lines 23 through 32
 4.Enter the total of any amounts entered on the dotted line next to Form 1040, line 364.    
 5.Add lines 3 and 45.  
 6.Subtract line 5 from line 26.  
 7.Enter any foreign earned income exclusion and/or housing
exclusion (Form 2555, line 45; or Form 2555-EZ, line 18)
 8.Enter any foreign housing deduction (Form 2555, line 50)8.  
 9.Enter the amount of income from Puerto Rico you are excluding9.  
10.Enter the amount of income from American Samoa you are
excluding (Form 4563, line 15)
11.Add lines 6 through 10. This is your modified adjusted gross income11.
12.Enter the amount shown below for your filing status12.
 • Single, head of household, or qualifying widow(er)—$65,000  
 • Married filing jointly—$130,000  
13.Is the amount on line 11 more than the amount on line 12?  
  No. Skip lines 13 and 14, enter -0- on line 15, and go to line 16.   
  Yes. Subtract line 12 from line 11 13.
14.Divide line 13 by $15,000 ($30,000 if married filing jointly). Enter the result as a decimal
(rounded to at least three places). If the result is 1.000 or more, enter 1.000
14. .     
15.Multiply line 1 by line 1415.
16. Student loan interest deduction. Subtract line 15 from line 1. Enter the result here
and on Form 1040, line 33. Don't include this amount in figuring any other
deduction on your return (such as on Schedule A, C, E, etc.)