In my Student Loan accounts it says that I will be able to use a reportable tax interest form 1098E. Does that mean I can use my loan repayments as a tax credit or deductible? By the way, My loans are currently on Forbearance.
Employment income and tax refunds can be garnished by debt collectors – can the monetary stimulus rebate be garnished as well?
I bought 20 acres in northern Idaho and am carrying an 8yr interest-only loan at $670/month. I am plotting to retire early (age 55) in 8yrs and plot to use this land to build my retirement home. In the meantime, I want to use it as a second home by permanently leaving my travel trailer on the property. Once I do this, can I deduct the interest of the trailer PLUS the interest on the land loan?
If both spouses have questioned for loans , does it make any difference to make a deduction if one or both are working after they graduate ?
I had over $10,000 in student loans, and my parents paid it off on my behalf. The money was never formally “transferred” to me, but instead my parents just paid the company directly. What tax implications does this have for me?