- quote -

That's right, even back to 1913, IF you still have the
forms. Actually I don't think there were any such things as
1040X forms back then.

ChEAr$,
Harlan Lunsford, EA n LA

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- quote -

I thought you could always amend, you just can't get a
refund for older years.

Seth

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alisha_engl...[at]yahoo.com wrote:

- quote -


You can amend returns until 3 years past the deadline for
filing the return. Currently, tax returns for years
2003-2005 are still open and can be amended.

But what do you mean by receiving students loans? The only
deductions regarding student loans that you can take are for
payments for tuition and fees, e.g. you used a student loan
to pay tuition (this can be either a deduction or a credit)
or interest you paid on student loans that you are paying
back.

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alisha_engl...[at]yahoo.com wrote:

- quote -

You can amend your returns for tax years 2003 through 2005.
The deadline for amending 2003 and getting a refund of over
paid taxes is April 17, 2007.

Use form 1040X available at
http://www.irs.gov/formspubs/lists/0,,id=97817,00.html. File
each amended return in a separate envelope. Do NOT mail them
all together.

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<alisha_england[at]yahoo.com> wrote

- quote -

You can't deduct student loans received. You can however,
take some educational credits or deductions for qualified
tuition and fees ~paid~ during the year.

- quote -

You would have to file Form 1040X to amend your returns,
attaching any corrected or new forms or schedules to support
the changes.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net

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<alisha_england[at]yahoo.com> wrote:

- quote -

There's a deduction for paying interest on student loans,
but no deduction for receiving them. There are tax benefits
which arise from expenses paid from student loans.

Step one is to get a copy of IRS Publication 970 and see
what education tax benefits were available to you. Then you
can amend 2003 and later. Anything earlier is lost, and the
deadline for amending 2003 is 4/17/2007. To amend you'll
need Form 1040-X, its instructions, and possible Form 8863
for Education Tax Credits. Make sure you get the 8863 for
the correct year. The rules have changed.

--
Phil Marti
Clarksburg, MD

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<alisha_england[at]yahoo.com> wrote:

- quote -

I hope you did not pay for that advice! The loans were NOT
income to you. If you declared them as income, you need to
file amended returns.

Did you take the appropriate educational credits?

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I had been receiving student loans for 2 years when i found
out that you can deduct them from your taxes. Can I go back
to claim that deduction or is it lost?

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