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Am I eligible for some tax deduction if I am making payments on student loan?

Date: Thu, 02/23/2017 - 21:38
Submitted by wlenoire on Thu, 02/23/2017 - 21:38
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I have heard that there are certain tax deduction on some debt payments. Can I get tax deduction if I'm making payments on my student loans? I have recently started paying off my student loans - 6 months back.


You won’t get a tax deduction while you’re making the payments. However, you can deduct the interest charges later on.

You are a moron Phil. Please do not comment on something you obviously know nothing about.


Submitted by Phil Bradford on Fri, 02/24/2017 - 03:43

Phil Bradford

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Hi, of course...the "interest" part of your student loan payments is tax deductible during that tax year.

You can deduct student loan interest from tax if:

a. In this tax year, you have paid interest on a qualified student loan.
b. You are filling your taxes separately and not as married.
c. If you are filing the tax jointly with your spouse, you can't claim as dependents on someone else’s tax return, etc..


Submitted by Barbara Delinsky on Mon, 02/27/2017 - 05:34

Barbara Delinsky

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