Are student loans tax deductible?

Asked 1 year ago, Edited 1 month ago by Stephen Fiedler in Money

No comments yet. Be the first.

Spam

3 Answers

Spam

Yes; to a certain extent http://www.irs.gov/taxtopics/tc456.html. Also, don't forget that educational expenses are tax deductable if you had some last year.

Answered 1 year ago by Michael Krieger

No comments yet. Be the first.

Spam

Stephen, it might not be applicable to all student loans, but see the explanation at the link regarding MBA loans and other expenses generally. I know Lewis personally and his approach is very popular with MBA grads (obviously). http://generationtax.com/mbataxdeduction.html

Answered 1 year ago by Dan Ryan

No comments yet. Be the first.

Spam

Stephen, you cannot claim a deduction for your entire payment; however, you can deduct the portion that covers your interest charges. Here's an in-depth article explaining what is tax deductible and what isn't: http://blog.turbotax.intuit.com/2011/06/10/are-student-loans-tax-deductible/

Answered 1 year ago by Jenny Simon

No comments yet. Be the first.

Copy the HTML below to share on your blog or website.

<a href="http://www.mosaichub.com/open_forum/question/are-student-loans-tax-deductible">Are student loans tax deductible? </a>

First Name:
Last Name:
Email:
Password:

Email:
Password:
	Forgot Your Password?

mosaicHUB Answers

Money

Are student loans tax deductible?

Are student loans tax deductible?