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Question

Can I deduct interest on a student loan if it was garnished?

Forum|Forum|5 years ago
October 6, 2020
1 reply
0 views

Garnished from my federal retirement

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That depends, and I recommend you seek legal advice from a tax professional on this. For example, if the debt was past due and was sold to a collection agency, then it's perfectly possible that the loan is no longer a "qualified" student loan - meaning that the interest is not deductible. If you did not receive a 1098-E for the loan interest paid, then "MAYBE" it's no longer a qualified student loan. So you "need" to seek professional help on this from a tax professional in your local area.