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A
Awill850p
March 28, 2020
Question

taxes

  • March 28, 2020
  • 1 reply
  • 0 views

can I write off interest from a loan on my tax return.

    1 reply

    J
    JotikaT2
    March 28, 2020

    It depends.

     

    If you have student loan interest, you may be able to claim a deduction as an adjustment to income if you received a Form 1098-E.

     

    Student Loan Interest deduction

     

    The other types of interest that may be deductible if you are able to itemize deductions are for mortgage interest or investment interest paid on property held for investment.

     

    Any other type of interest expenses is mostly likely nondeductible. 

     

     

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