Why would student loan interest lessen your refund Part 2?

I use H%26amp;R Block and am being properly led through returns.





(rephrased due to reader confusion)


42k gross this last year. After I input wages and income, if I input my student loan interest from 2007 into the 'Deductions' then my refund total goes to $13.





If I do not include the student loan interest paid, I get $340.





Usually when I add in the student loan interest to my return, then my refund goes from $350 or so to between $700-800. Any reason that this year it takes that much away, but before it doubled it?





The only difference between this year and the last was I got a 2nd job.

Why would student loan interest lessen your refund Part 2?
you must be reading the instructions wrong.





not in every case will paying student loan interest increase your refund, but it will not cause you to pay more taxes.





read more closely where you are entering the amounts.
Reply:It sounds like you either made too much money this year to claim the credit for student loan interest or you don't have enough to itemize and can only take the standard deduction.





I am guessing it has to do with rise of income and not having enough to take more than the standard deduction.





ALso, as I am sure you know...you don't HAVE to take the deduction.
Reply:Are you entering it in the correct spot?





I have seen people entered interest paid in to the place where they are supposed to put interest earned......and likewise.





There are income limits on student loan interest so it can often have no effect on a refund but it can't make it go down.
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