Student loan debt tax question....
Date: Wed, 06/02/2010 - 11:22
Student loan debt tax question....
Does anyone know if interest being paid on a student loan currently being garnished is tax deductible?
I received a notice from the Dept. Of Education stating that I paid over $2,500.00 in interest last year a week after I filed my 1040EZ, and was wondering if I should file an amended return, or what my next step should be?
Thanks!
I received a notice from the Dept. Of Education stating that I paid over $2,500.00 in interest last year a week after I filed my 1040EZ, and was wondering if I should file an amended return, or what my next step should be?
Thanks!
As far as I know, any interest you pay on your student loans is
As far as I know, any interest you pay on your student loans is tax deductible, no matter how you paid it. However, you can't file student loan interest on a 1040EZ, so if you file an amended return you'll have to file a 1040A as well as a 1040X and amend your state taxes. My advice is to not amend 2009's return and wait until your get your student loan statement for 2010 to file.
