I was wondering if there was a way to save money on my annual large student loan payments by having them deducted from my taxes. I contributed roughly $50,000 to student debt last year.
I utilized Turbo Tax during the previous tax year to get an estimate of the amount that would be deducted from my student loans, if I chose not to deduct them at all, I would have received a greater refund.
Does anyone know what I might be missing? Or, given how much I am paying in, could someone please advise me on how to receive a bigger tax break?