Student Loan Interest

[Danielle]

Have student loan interest form that shows how much interest paid on student loan. However, the taxpayer actually paid in much less than the amount shown on the form. What gives?

[Brian EA]

Have student loan interest form that shows how much interest paid on student loan. However, the taxpayer actually paid in much less than the amount shown on the form. What gives?

Go with the 1098.He probably can't remember

[Bill Tubbs]

Capitalized interest?

Have student loan interest form that shows how much interest paid on student loan. However, the taxpayer actually paid in much less than the amount shown on the form. What gives?

See Pub 17, pg 130 / 128 (depending if you go by Adobe page or document page number), middle column "Include As Interest".

Bill

[Danielle]

Student Loan Interest

Do you take the deduction for capitalized interest when it is added to principal or do you take it when you make the payment.

i.e. If you do not pay in as much as is shown on form because capitalized interest is added to amount shown on form which amount do you deduct. Amount shown on form or amount actually paid.

[Brian EA]

Do you take the deduction for capitalized interest when it is added to principal or do you take it when you make the payment.

i.e. If you do not pay in as much as is shown on form because capitalized interest is added to amount shown on form which amount do you deduct. Amount shown on form or amount actually paid.

Take the amt shown on form. That amt is reported to the IRS

[Unregistered]

I thought

Take the deduction $2500