2007-02-02 06:24:49 · 10 answers · asked by nikki g 1 in Business & Finance ➔ Taxes ➔ United States
Don't listen to these people, yes you can!
2007-02-02 08:40:21 · answer #1 · answered by megan33wz 2 · 0⤊ 1⤋
If you meet the other qualifications to claim the Hope and Lifetime learning Credit, then yes you could,
You would not at this time be able to claim the adjustment to income in relation to the Student Loan Interest,
Read thru the attached Pub 970 chapters 2 and 3 to see if you meet all of the qualifications
http://www.irs.gov/publications/p970/index.html
2007-02-02 06:37:00 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Yes you can claim the credit since the expenses were paid with the loan.
2007-02-02 18:37:12 · answer #3 · answered by Judy 7 · 0⤊ 1⤋
Yes, you can still take the interest deduction because it's still a debt to you. The IRS assumes you'll pay it if you owe it. You are taxed on the change in your net worth and the loan debt is deductible against any gains you made such as income.
2007-02-02 06:31:20 · answer #4 · answered by cococoalmo 1 · 1⤊ 1⤋
Yes. The loan is your obligation in the end, and the expenses have been paid.
2007-02-02 06:27:54 · answer #5 · answered by Honesty given here! 4 · 1⤊ 2⤋
NO!! why should you benefit when you haven't paid.
2007-02-02 06:27:47 · answer #6 · answered by hailey 4 · 0⤊ 3⤋
yeah i want to know to.. so let me know if you know the answers
2007-02-02 06:27:29 · answer #7 · answered by sylvaniaS 3 · 0⤊ 3⤋
no because u cant spell.
2007-02-02 06:27:14 · answer #8 · answered by kevincolorado 2 · 1⤊ 2⤋
no
2007-02-02 06:32:44 · answer #9 · answered by Anonymous · 0⤊ 2⤋
No.
2007-02-02 06:27:32 · answer #10 · answered by Anonymous · 0⤊ 3⤋