Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax
This answer was rated:

I was wondering for itemized deductions line 23 other

Hi, I was wondering for...
Hi, I was wondering for itemized deductions line 23 other expenses, can I put student loan interest paid on this section?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Line 23 is other expenses, I believe last year the tax people put it there and I was wondering if that's ok?
JA: Is there anything else important you think the Accountant should know?
Customer: No
Show More
Show Less
Ask Your Own Tax Question
Answered in 6 minutes by:
2/2/2017
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question.

Just on a side note - You can deduct up to $2,500 of student loan interest paid in a given year. As with many tax rules, there is an income limit to this deduction. Your modified adjusted gross income cannot be more than $80,000 (or $160,000 for married couples filing jointly).

Ask Your Own Tax Question

Hi. Confirming the line #

Ask Your Own Tax Question
Customer reply replied 10 months ago
It's line 23 on Schedule A

Hi. It is line 33 on your 1040.

Ask Your Own Tax Question

Let me know if you have any questions. Thank you.

Ask Your Own Tax Question
Customer reply replied 10 months ago
Thanks

You are very welcome. Have a great day.

ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
Experience: Business Consultant/Accounting Manager
Verified
ABC Accounting Group and 87 other Tax Specialists are ready to help you
Ask your own question now
Ask ABC Accounting Group Your Own Question
ABC Accounting Group
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 714
714 Satisfied Customers
Experience: Business Consultant/Accounting Manager

ABC Accounting Group is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,336 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

13,906 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
For a CPA about tax rules on pass through entities and
For a CPA about tax rules on pass through entities and partnerships: I have a pass through entity - an LLP (Limited Liability Partnership) with 2 partners. The entity had operated for years as a sole … read more
Carter McBride
Carter McBride
LLM
103 satisfied customers
Is the interest one pays on a personal loan a tax deduction?
Is the interest one pays on a personal loan a tax deduction? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,613 satisfied customers
Dose mean can not deduct state income taxes only or dose it
dose mean can not deduct state income taxes only or dose it includes property taxes too … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Can you claim and file on a schedule Form A, monthly
Can you claim and file on a schedule Form A, monthly payments for Personal Property Taxes given to a family, member concerning property taxes paid in another state. My name is ***** ***** deed. The no… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,613 satisfied customers
Income tax question. Are there any ways that interest on an
income tax question. Are there any ways that interest on an insurance policy can be tax deductible? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,906 satisfied customers
Since my adjusted gross income is over $100,000, I can't
Since my adjusted gross income is over $100,000, I can't take the rental loss that I have even though I was actively maintaining the property. Since I have a mortgage and property taxes on that rental… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,906 satisfied customers
I am not filing schedule A for itemized deductions, but
I am not filing schedule A for itemized deductions, but would like to include sales tax in 1040 Form. Where do I put it? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,906 satisfied customers
How do I get my adjusted gross income for 2015? I lost all
How do I get my adjusted gross income for 2015? I lost all my records in the flood in Baton Rouge in August 2016. … read more
Rick Martin
Rick Martin
MBA
92 satisfied customers
Dependent Children. 1. Taxpayer's adjusted gross income is
Dependent Children.1. Taxpayer's adjusted gross income is over $ 800K so personal exemptions are phased out. 2. Taxpayer's children are between ages 12 - 17. 3. All three children have earned income o… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
If I prepare an itemized deduction, can I also deduct the
If I prepare an itemized deduction, can I also deduct the standard deduction? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am working on my itemized deductions (schedule a), can you
I am working on my itemized deductions (schedule a), can you tell me which line should I put 1) interest paid on the mortgage 2) property tax 3) home owner insurance. Thank you… read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,336 satisfied customers
I am filing schedule a - itemized deductions - I see
I am filing schedule a - itemized deductions - I see interest(item 10) insurance(item 13) but I can not find the property tax deduction. Is property tax I'd deductible Thank you… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Do I reduce my adjusted gross income by the amount of a
Do I reduce my adjusted gross income by the amount of a forgiven debt(1099-c) before figuring the EIC? … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
I'm filing 1040 w/"A" for Itemized Deducts'. I list 2016
Hi Pearl - I'm filing 1040 Long w/"A" for Itemized Deducts'. I list 2016 401K early withdrawal amount on Section 15b of 1040 but how does one handle 10% penalty on IRS Forms ("withdrawal" wasn't rolle… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
My adjusted gross income from 2016 was $199,397. If I take
My adjusted gross income from 2016 was $199,397. If I take an early withdraw of $26,700 from a 401k I know I will pay a 10% penalty but if I have them take an additional 20% Federal Tax will that sati… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,906 satisfied customers
I have a question about itemized deductions for income we
I have a question about itemized deductions for income we might receive from renters. During 2017 we want students from local colleges to rent from us and get some assistance with totoring. They each … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
In 2016 my son adjusted gross income was $1,514. His federal
In 2016 my son adjusted gross income was $1,514. His federal withholding was $101. His tax for 2016 is $0. … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
13,906 satisfied customers
My mothers adjusted gross income is 6033, her standard
my mothers adjusted gross income is 6033, her standard deduction is 6300, where will the 2000 that she won in the lottery be entered on the 1040 form and does she have to pay a tax on this money … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x