Can I claim student loan garnishments on my taxes?
Date: Wed, 01/09/2013 - 08:45
You can only claim the
You can only claim the interest paid in that calender year. Keep in mind when you are garnished or make any payment on a defaulted student loan, your payment goes to collection fees first, then interest and finally principal. Your lender (guarantor) should send you a 1098 automatically from your guarantor if you paid over $600 in interest.