Does the $2,000 limit for payment of student loan interest apply to joint returns?
Bill Messer, Columbia,. S.C.A: Yes, the deduction limit is per return and doesn’t increase even if husband and wife each paid student loan interest last year. One benefit to married joint filers is that the phaseout of the deduction begins at a higher level of adjusted gross income $60,000 vs. $40,000 for single or head of household filers. Married-filing-separate returns are not eligible for the deduction.
