Student Loan Interest Deductions FAQs
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Q:
If A Student Is Claimed As A Dependent By His/Her Parent In A Particular Taxable Year, May The Student Take The Student Loan Interest Deduction For Student Loan Interest That He/She Pays In That Year?
A: No. The student may not claim the student loan interest deduction in any taxable year in which he/she is claimed as a dependent on another taxpayer's return. However, … More -
Q:
Are Tax Benefits Available If The Student Repays His/Her Loan By Performing Community Service Rather Than Making Cash Payments?
A: There may be. Loan forgiveness provided in return for community service is taxfree when it is part of certain lending programs run by the Federal, state, or … More
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IRS Tax Problem
Tax Deductions | Taxpayer Identification Number |