Donating to your alma mater or a favorite charity? Generally, you can deduct qualified charitable donations if you itemize your taxes. Student loan interest. You can deduct up to $2,500 in interest payments, depending on your modified adjusted gross income.However, these numbers are subject to change in future tax years. If you are married and are filing jointly, you may be eligible if your adjusted gross income is $73,000 or less. For the 2023 tax year, if your filing status is single, you may be eligible if your adjusted gross income is $36,500 or less. The amount of the credit depends on your filing status and adjusted gross income.
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