Line 10. Student Loan Interest Deduction
Enter the amount from U.S. Form 1040, line 33 or 1040A, line 18, not to exceed $2,500. This deduction is only allowed if not claiming the same expenses
in line 12 of Schedule Y, Undergraduate Student Loan Interest Deduction.
Line 12. Undergraduate StudentLoan Interest Deduction
A deduction is allowed for interest paid on a qualified undergraduate student loan. To be eligible for the deduction, the “education debt” must be a loan
that is administered by the financial aid office of a two-year or four-year college at which you, or a qualified dependent, were enrolled as an undergraduate
student. Additionally, the loan must have been secured through a state student loan program, a federal student loan program, or a commercial
lender, and must have been spent solely for the purposes of paying tuition and other expenses directly related to the school enrollment.
Enter the amount of such interest paid in Schedule Y, line 12. This deduction is only allowed if not claiming the same expenses in line 10 of Schedule
Y, Student Loan Interest Deduction.