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re: Student Loan Interest...
Posted on 1/13/10 at 11:31 am to LeonPhelps
Posted on 1/13/10 at 11:31 am to LeonPhelps
ok. my income was 75 K year before last (gross) I get a hell of a lot taken out.
and I wanna say I claimed $900. I had just started repaying.
now, my gross is between 75-80 K...got a raise last year toward the end. I paid 3 K in stud loan interest.
and I wanna say I claimed $900. I had just started repaying.
now, my gross is between 75-80 K...got a raise last year toward the end. I paid 3 K in stud loan interest.
This post was edited on 1/13/10 at 11:32 am
2
Posted on 1/13/10 at 11:39 am to LSUdaughter
Did you pay 3K in student loan interest or 3K in student loans total? You can't deduct money you spent paying down principal
This post was edited on 1/13/10 at 11:40 am
Posted on 1/13/10 at 4:22 pm to LSUdaughter
Your gross was between $75-$80K, did you contribute to a 401(k) plan? If so, your AGI, and modified AGI may well be less than the $75K maximum. If not, you can still contribute to a traditional IRA to reduce your AGI to less than $75K. This might allow you to deduct some of the student loan interest.
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