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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29650
Experience:  Taxes, Immigration, Labor Relations
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I am a homeowner and i pay taxes on my home. Is there a tax

Resolved Question:

I am a homeowner and i pay taxes on my home. Is there a tax credit i can claim for that
Submitted: 5 years ago.
Category: Tax
Expert:  Lev replied 5 years ago.


Hi and welcome to Just Answer!
Yes - you may deduct real estate taxes you pay for your property.
To do so - you need to itemize your deductions - use schedule A -


Real estate taxes are reported on line 6.
Let me know if you need any help or clarification.


what about student loan payments for my daugther?


If you pay student loans for your dependent - you may deduct the interest. You should receive a Form 1098-E, Student Loan Interest Statement, from the entity to which you paid the student loan interest.
It is reported on the form 1040, line 33 -
Generally, the amount you may deduct is the lesser of $2,500 or the amount of interest you actually paid. You can claim the deduction if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2010

  • You are legally obligated to pay interest on a qualified student loan

  • Your filing status is not married filing separately

  • Your modified adjusted gross income is less than a specified amount which is set annually, and

  • You and your spouse, if filing jointly, cannot be claimed as dependents on someone else's return


i didn't claim my daugther as a dependant she has filed on her own. i recieved the 1098t. can that be used


There is a limit on modified adjusted gross income (MAGI) for Student Loan Interest Deduction - $150,000 if married filing a joint return; $75,000 if single, head of household, or qualifying widow(er).

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