 This is the first page of the Form 1040 Income section, we're on Line 10, Adjustments to Income from Schedule 1, Line 26. This is the Schedule 1, Part 2, Adjustments to Income, our focus this time on Line 21, Student Loan Interest Deduction. All right, so Line 21, Student Loan Interest Deduction. You can take this deduction only if all the following apply. You paid interest in 2023 on a qualified student loan. So note, when we think about student loan interest, how does this take place? Clearly, what is the government trying to do? Incentivize education. What actually happens? They end up subsidizing education, which increases the price of education. First, a word from our sponsor. Yeah, actually we're sponsoring ourselves on this one because apparently the merchandisers, they don't wanna be seen with us. But that's okay, whatever, because our merchandise is better than their stupid stuff anyways. Like our, trust me, I'm an accountant product line. Yeah, it's paramount that you let people know that you're an accountant, because apparently we're among the only ones equipped with the number crunching skills to answer society's current deep, complex, and nuanced questions. If you would like a commercial free experience, consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com. And that's why we have these very high tuition fees and whatnot. But the general idea, try to incentivize education. How? Well, when people take out loans in order to pay for education, we can give them a tax benefit on the loans once they start repaying it, giving the interest portion, which is kind of like the rent on the loan, a tax advantage standpoint where you might be able to deduct the interest. Now, quick recap of the income tax system and the types of deductions that are natural to an income tax system. In other words, if we tax income as we do in the United States for federal income tax purposes, it would make sense not to tax gross income, but rather net income, which we can see when we look at business income, such as a sole proprietorship typically reported on a schedule C, where we have income minus expenses, basically business deductions to get to net income.