- quote -

That is not correct. Being a student when you make the loan
payments is not one of the requirements for the deduction.

Bob Sandler

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Shhhh wrote:

- quote -

- Your filing status is any filing status except married
filing separately.
- No one else is claiming an exemption for you on his
or her tax return.
- You are legally obligated to pay interest on a qualified
student loan.
- You paid interest on a qualified student loan.

See IRS Pub 970 for more details.
http://www.irs.gov/publications/index.html

--
Alan
http://taxtopics.net

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123[at]456.com (Shhhh) posted:

- quote -

You can deduct student loan interest payments (adjustment to
income, line 33, Form 1040), as long as you continue to make
them -- even if it continues for 10 or 20 years (which is
quite common in these days of $30K+ annual tuition).

I think your doubt may stem from a confusion of student loan
interest with "education" credits (such as Hope or Lifetime
Learning) or deductions, which are tied to student status
for a 5-month period of the tax year in question.

Bill

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"Shhhh" <123[at]456.com> wrote:

- quote -

No. See IRS Publication 970.

--
Phil Marti
Clarksburg, MD

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I graduated college in May 2005; I began paying back my
student loans in January 2006. I recieved a 1098 E for the
interest I paid towards these loans. upon some reading
online I read where the deduction for interest can only be
taken if I am currently a student? Is this correct? Am I
ineligable to deduct any of my student loan interest since I
am currently graduated?

Thank you for your help,
Shhhh

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >