My daughter has dual really tall seductiveness tyro loans. Her credit won’t let her do anything, though we can "refinance" it with me removing a loan regulating my credit. But is it still a "student" loan which she can deduct. She is creation a payments as well as her name will be additionally upon a loan (ironically, she will co-sign for me). This seems to be a little gray area once a loan gets changed around. Just wish to have certain a "chain of custody" still creates a brand new loan seductiveness taxation deductable. Hope this done clarity as well as interjection for your help.
Related money posts:
- If I consolidate my student loan with a personal loan can I still write off the interest? I had a sovereign tyro loan which we combined about 8 years ago to someone who in a future sole which loan to Citibank. we...
- Is a loan from a relative to purchase property tax deductable? I am about to ask a relations for a loan to squeeze a land parcel for a destiny home site. you am starting to compensate...
- Is a loan from a relative to purchase property tax deductable? I am about to ask a relations for a loan to squeeze a land parcel for a destiny home site. you am starting to compensate...
- How do I get personal loan with fair credit score but debt to income ratio is high. I had been declined? I only got a brand new pursuit as a nurse, my college loan, automobile loan, co-signer daughter automobile loan, debt payment, owned a residence though...
- Does a student loan and a bank loan affect your credit the same way? I have the single credit label ( revolving credit ) as well as we have the single tyro loan ( bound monthly payments ). we...
If you like this blog please take a second and subscribe to my rss feedTags: chain of custody, gray area, interest student, interest tax, loan interest, student loans
Comments: 2 comments
All the notebook fields that are marked with REQ must be filled when searched for
PepsiLime
July 19th, 2009 at 6:45 pm
Nope, sorry, but personal loan won’t qualify, as you will have nothing in writing to say that it is student loan interest.
mechbasket
July 19th, 2009 at 6:45 pm
It wasn’t that very clear, but from what I understood your co-signing on the loan. She’ll pay for the loan’s premium and interest. and that’s about it …
Remember: Who ever pays the student interest, that person will have the right to deduct those interest payments on their tax return (up 2,500).
The only thing that I can figure that will absolutely confirm that you are paying a student loan is that if at the beginning of the tax season, you receive a 1098-E "Student Loan Interest Statement" from your Lender.
Leave a reply