Can I interest deduction at source on a student loan on my taxes when I transfer the balance, a credit card?
August 24, 2010 by admin
Filed under Student loans
I transferred halfway through the loan of the year with a credit card due to a better interest rate than the AES (American Education Sevices). Wanted to know if I can claim interest now that its on a credit card for my taxes? The credit card is that the Student loans and anything else about it. He had a zero, and nothing has been removed from the Student loan
Nope. You can not deduct interest on credit cards, no matter where kam.Sie balance should be able to benefit from the year she did ask a qualified student loan. But once you transfer the balance you have basically paid the tax deductible mortgage with a new link that no tax benefits hatten.Die lesson: Always consider the tax consequences of financial decisions before acting.
Sorry, no. It must be reported to the IRS on Form AES. Since it does not, you can not deduct.
You can request that the interest when it was still a student loan. You are not entitled to claim interest machen.Sie credit card should have taken into consideration when you compare interest rates.