Comments on: Can I claim the interest paid on student loans if not enrolled? http://booksmartloans.com/can-i-claim-the-interest-paid-on-student-loans-if-not-enrolled/ Fri, 19 Dec 2008 09:14:17 +0000 hourly 1 http://wordpress.org/?v=3.0 By: wartz http://booksmartloans.com/can-i-claim-the-interest-paid-on-student-loans-if-not-enrolled/comment-page-1/#comment-26 wartz Wed, 03 Dec 2008 14:24:50 +0000 http://booksmartloans.com/can-i-claim-the-interest-paid-on-student-loans-if-not-enrolled/#comment-26 It is not a deduction, it is an income adjustment that you can take even if you don't itemize. It is not a deduction, it is an income adjustment that you can take even if you don’t itemize.

]]> By: Bobo http://booksmartloans.com/can-i-claim-the-interest-paid-on-student-loans-if-not-enrolled/comment-page-1/#comment-25 Bobo Mon, 01 Dec 2008 11:06:24 +0000 http://booksmartloans.com/can-i-claim-the-interest-paid-on-student-loans-if-not-enrolled/#comment-25 Student loan interest is deductible if you are responsible for the repayment, you were at least a half-time student working toward a degree or certificate, you file any status but married filing separate and are not a dependent of someone else . The loan proceeds must have been used for education purposes. The maximum amount you can deduct is $2500. You can deduct the interest for what the IRS refers to as a reasonable amount of time after you have have taken out the loan. IMHO, that would be until it's paid off! Check out irs.gov to make sure that your income will not limit your deduction. Student loan interest is deductible if you are responsible for the repayment, you were at least a half-time student working toward a degree or certificate, you file any status but married filing separate and are not a dependent of someone else . The loan proceeds must have been used for education purposes. The maximum amount you can deduct is $2500. You can deduct the interest for what the IRS refers to as a reasonable amount of time after you have have taken out the loan. IMHO, that would be until it’s paid off! Check out irs.gov to make sure that your income will not limit your deduction.

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