Is my entire student loan payment tax deductable?

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Is my entire student loan payment tax deductable?

2006-08-23 12:24:43 · 4 answers · asked by zipper76 1 in Business & Finance ➔ Taxes ➔ United States

4 answers

No. Only the interest.

2006-08-23 12:27:55 · answer #1 · answered by Shofix 4 · 0⤊ 0⤋

basically the pastime is deductible, no longer the section that is going to primary. The lender will deliver you a actuality on the right of the three hundred and sixty 5 days showing the quantity of pastime paid. it really is deductible no matter if you itemize or no longer.

2016-11-27 01:27:39 · answer #2 · answered by ? 4 · 0⤊ 0⤋

Only the interest is deductible. There are limitations. See IRS document below.

2006-08-23 15:45:09 · answer #3 · answered by STEVEN F 7 · 1⤊ 0⤋

like the first answer... interest is deduction for adjusted gross income... so it's pretty sweet

2006-08-23 13:57:13 · answer #4 · answered by bbbryan14 2 · 0⤊ 0⤋