Education Expense Confusion

I go brain-dead trying to read and understand the education deduction literature. Here's my situation: My son is 18 and attends college in another city

His tuition and a portion of his books are paid for with a state scholarship. We took out a student loan to pay for room and board and other living expenses. I received a 1098-E showing student loan interest of $180.00 on a loan of $4,500. I'm assuming the only issue here is where to report the $180.00 on my 1040. Am I thinking correctly and is this $180 a so called qualified expense?

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Reply to
MDinDestin
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snipped-for-privacy@hotmail.com (MDinDestin) asked:

You are correct, and the $180 should be entered on Form

1040, line 33. This issue is covered explicitly in the 1040 instructions on Page 33, and there's a worksheet provided to verify you're entitled to the full amount, based on your total income. Note that line 33 is an "adjustment to income."

Bill

Reply to
Bill

See Chapter 4 of Publication 970 and line 33 of the 1040.

-- Phil Marti Clarksburg, MD

Reply to
Phil Marti

Your assumptions are correct. Goes on page one of form 1040 under adjustments to income. Missy Doyle

Reply to
Missy

Thanks to all of you. I was hung up on trying to figure out if the expense was a so called "qualified" expense. Now I realize it is.

Reply to
MDinDestin

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