can i claim 1000$ student loan paid this year on taxes?
The question
I had 1000$ withheld from my tax return this year(2011) for a student loan from 2006. Can i claim this on my 2013 return? If so about how much would it save me.
Best answers:
seriously?
You can claim any interest paid if you qualify on the 2011 return. It will save you pennies. If this is ttaxes due then no
You were already told no. Technically you got the $ 1000, but because you failed to pay the student loan on your own, the IRS paid it for you. You get NO DEDUCTION.
You can claim the interest, not the loan repayment itself or any penalties or fees for being late. It might save you a few dollars, not a lot.
A student questions Mount Holyoke College Student Financial Services: How much student loan debt is too much?
Of course not. It was withheld b/c you refused to pay it. You get no deduction for paying it now. Even if you did, it would be only the interest.
No NO No and No way and time would it ever be possible to have a deduction on your federal 1040 income tax return for any payment of past due legally collectible government debts that have been paid through the FMS REFUND offset program for this purpose and time in your life.
Hope that you find the above enclosed in rank useful. 12/15/2011
of course not