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11-14-2008, 10:59 PM
| | Junior Member | | Join Date: Mar 2003
Posts: 28
| |  student loan interest ?
What is the name of your state (only U.S. law)? OHIO-- my daughter is on social security disability for the past few years,due to an accident. She has very little earned income. Can she deduct the interest paid on a student loan even tho she has hardly paid any taxes. Can she get a credit for the interest for later when she can work?What is the name of your state (only U.S. law)? |
11-15-2008, 09:35 AM
| | Senior Member | | Join Date: May 2004
Posts: 33,549
| | Quote:
Originally Posted by gramdma  What is the name of your state (only U.S. law)? OHIO-- my daughter is on social security disability for the past few years,due to an accident. She has very little earned income. Can she deduct the interest paid on a student loan even tho she has hardly paid any taxes. Can she get a credit for the interest for later when she can work?What is the name of your state (only U.S. law)? | She can claim it, although its unlikely to provide her any benefit as her standard deduction and personal exemption may already wipe out any taxable income that she might have. No, it cannot be saved for a future date.
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