|
| Posted By |
Message |
2boys4me
He's coming soon!
Member since 4/10 4260 total posts
Name:
|
Tax write offs
I paid off all of Dh's student loans and have been making large payments monthly on mine. Can I write that off?
|
Posted 1/21/13 3:43 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
|
Re: Tax write offs
If I remember correctly, you only write off the interest. You'll get a statement from the financial institution you have the loans from.
|
| Posted 1/21/13 3:44 PM |
| |
|
MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
|
Tax write offs
You can only deduct the interest that was paid on the student loans. You should receive a 1098-E in the mail or you can log-in online to the account and print it out.
|
| Posted 1/21/13 3:44 PM |
| |
|
|
|
Re: Tax write offs
Only the interest is deductible, and the deduction phases out at higher income levels.
|
| Posted 1/21/13 4:18 PM |
| |
|
LSP2005
Bunny kisses are so cute!
Member since 5/05 19454 total posts
Name:
L
|
Re: Tax write offs
Posted by architectnycity
Only the interest is deductible, and the deduction phases out at higher income levels.
For student loans you might be able to deduct all or part of the interest you paid on a student loan depending upon your income. As pp said there is an income phase out period.
Message edited 1/21/2013 5:42:23 PM.
|
| Posted 1/21/13 5:40 PM |
| |
|
Potentially Related Topics:
Currently 1465986 users on the LIFamilies.com Chat
|
