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Topic: student loan interest?  (Read 1086 times)

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student loan interest?
« on: February 20, 2008, 05:24:02 PM »
Well I dont work now, and havent since july 06, but I just received the statement from my student loan with the amount of interest for the tax year. Is this of any use to me or should I just bin it?


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Re: student loan interest?
« Reply #1 on: February 20, 2008, 06:06:46 PM »
As I understand it, it's deductable from your gross income, so if you have any US income this year, or your household income is over a certain amount (in other words, are you liable for US taxes), then yes.  If your foreign-earned income exclusion covers all tax liability anyway, then no. 
I refuse to answer that question on the grounds that I don't know the answer.



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Re: student loan interest?
« Reply #2 on: February 20, 2008, 06:14:19 PM »
Keep it. Even if you don't need to apply it to this year's taxes, it's something you should keep in your records for the seven or however many years you're supposed to keep things in case of an audit.
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