student loan deduction

i am in my third year of paying back my student loan. in the first 2 years of paying my loan back, i did not deduct the intrest i paid towards my loan on my federal tax returns for the the years of '99 and '00. is it at all possible to still go back and deduct the intrest i paid for those past 2 years on my current/future tax returns? a fellow co-worker had mentioned that a person has up to 3 years to claim any return due to them before the 3 years are up on any money owed to them. is this true?

a fellow co-worker had mentioned that a person has up to 3 years to claim any return due to them before the 3 years are up on any money owed to them. is this true?

I've heard that's true.

[ellencee]

you may refile your tax returns for the years that you failed to claim this interest, given the 3 years limit has not been exceeded.

how do you refile from years past? is there a certain forms or procedures one has to do? or, you just use your student loan intrest statements from those past years on this years return?

Check out [url]www.irs.gov[/url] -- You can download many forms from there or pick them up at your local tax preparer office. I *think* it's called a 1040X, but my memory does not always reflect reality.

Hope this starts you in the right direction and good luck!!

[ellencee]

it's easier than that--you can simply use a form for this year's filing (the year 2001) and at the top will be a place to fill in the year if it's different from the year 2001. The place will say 'from January 1, _______ to December 31, _______.
Fill it in and mail it.