Discusion board “ FEDERAL INCOME TAX CLASS”
Read ¶6570 Student Loan Interest. Recently, there has been a debate that taxpayers should be able to deduct all, as opposed to a cap of $2,500, student loan interest in the same way that home owners are allowed to deduct all of the interest of a home mortgage.
In your initial response answer the following question:
1 – In your opinion should the deduction for student loan interest be capped or should taxpayers be able to deduct the entire amount? Why?
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