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We have a son in college on a student loan are we

required to file deduction on...
We have a son in college on a student loan are we required to file deduction on interst paid although we are not repaying the loan till 2011.Thanks
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Answered in 2 minutes by:
2/1/2008
Jon Andrews
Jon Andrews, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 3,118
Experience: I deal with all levels of tax planning and controversy - from the ordinary to the complex.
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No, the deduction is for interest actually paid so if you are not paying it yet, there is no deduction available.

jon

Jon Andrews
Jon Andrews, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 3,118
Experience: I deal with all levels of tax planning and controversy - from the ordinary to the complex.
Verified
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