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What is a "qualified student loan"?

before or after you took out the loan, and For education provided during an academic period for an eligible student. For details about these 3 requirements, see below. Loans from the following sources are not qualified student loans. A related...

What are the qualifications for the Student Loan Interest Deduction?

You can generally take the student loan interest deduction if all of the following apply: You paid interest during the tax year on a qualifying student loan. Your filing status is not married filing separately. You are legally obligated...

What types of loans DO NOT qualify for the student loan interest deduction?

You cannot deduct student loan interest if the loan was from one of the following sources: A related person, OR A qualified employer plan. Related Person: You cannot deduct interest on a loan you received from a related person. Related...

Form 1098-E: What do I do with my Student Loan Interest Statement?

Any interest that you paid on qualifying student loans is generally reported to you on Form 1098-E, Student Loan Interest Statement by the financial institution to which you made the payments. If you received a 1098-E, you can generally...

How do I claim the Credit for Child and Dependent Care Expenses if my spouse was a student or disabled?

of the checkboxes should be marked when you are entering your dependent information into your account with TaxSlayer. Check if this person was a FULL-TIME STUDENT: The IRS defines a full-time student as a student who is enrolled for the number......

What is a 1098-E?

Form 1098-E reports the student loan interest you have paid throughout the tax year. To see an example of this form please click the link provided below. 1098-E Example

What are "qualifying education expenses"?

For purposes of the student loan interest deduction , these expenses are the total costs of attending an eligible educational institution, including graduate school. They include amounts paid for the following items. Tuition and fees. Room...

Please explain deductions and credits that are available related to Education.

are that you are paying interest. If so, you can generally use this interest as an additional deduction on your return. You can claim the interest deduction if all of the following apply: You paid interest on qualified student loan in tax year 2013...

What is a Form 1099-C? Cancellation of Debt (View a sample form)

A 1099-C is received when you have a debt (home, credit card, student loan, etc.) cancelled. This happens when you receive money initially but are not required to pay all or an amount back to the borrower. Because you are not paying...

Tax Tips for Students and Parents Paying College Expenses

for an eligible student if your modified adjusted gross income is below $80,000 ($160,000 if married filing jointly). Student Loan Interest Deduction - Generally, personal interest you pay, other than certain mortgage interest, is not deductible...