Hot 2010 Tax Tips By DC Tax Service 1701 Kennedy Blvd, Jersey City, NJ 07305 201-884-9734 http://ping.fm/8ePld

When comes to student loan interest in 2010, the IRS is giving you extra flexibility in the by allow some major exceptions to the general rules for dependents.

For the purpose of student loan interest deduction here are three key points:

An individual can be your dependent even if the individual has gross income for the year that equal to or more than the exemption for the year. In 2010 it is $3600.

An individual can be your dependent even if you are the dependent of another taxpayers.

An individual can be your dependent even if the individual files a joint return with a spouse.

This means that you may be eligible for more cash back on those loans you took out to pay qualified education expense.