When I consolidated my student loans. . . by a new company. . . Can I deduct interest on student loans?
August 27, 2010 by admin
Filed under Student loans
I havn’t actually paid money to the interest of his pocket. However, I paid a new loan, as my old one. They come from different companies, but they are both direct loans again. I paid by the technique that would borrow a new loan. Can I use the interest deduction for Student loans this year?
Yes, I do. Here, the Federal Republic website called Student Aid is: Hints: For tax years 2001 and above the amount entered in the column above interest and the amount in box 1 of your 1098 E-payer input is the sum of interest that the U.S. Department of Education has received your Direct Loan (s) for this year. For the 2002 tax year and more, it appears the amount of interest the column above and the amount in box 1 of your 1098-E pays the listed amount of interest, capitalized interest and tax credit of the U.S. Department of Education at the entrance of your Direct Loan (s) for this year.
Yes, your interest is deductible, regardless of who paid.
jaGood Luck!