How do I fill out the Student Loan Interest Deduction Worksheet?
I make more than $50,000, thus I am in the phase-out portion of the credit.
Line 1 – Enter the total interest you paid in 2006 – OK
Line 2 – Enter amount from Form 1040, line 22 – OK
Line 3 – Enter the total of the amounts from Form 1040, lines 23 through 32, line 34, and any write-in adjustments you entered on the dotted line next to line 36. – ?????
Line 4 Subtract line 3 from line 2 – OK
Line 5 – Enter the amount for your filing status – OK
What all goes into line 3? line 24 is my standard deduction and line 26 is my exemption, and line 28 is my tax. These are all included in that total in line 3????
any help including a quick example of how you arrive to that total number on line 3 would be appreciated.
The problem you are having is that you are doing the worksheet for claiming the Student Loan Deduction for the form 1040, and apparently you are using the form 1040A
Here is the instruction book for the form 1040A
http://www.irs.gov/pub/irs-pdf/i1040a.pdf
scroll thru to find the worksheet for the Student Loan deduction worksheet on page 31
