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    falcon1's Avatar
    falcon1 Posts: 13, Reputation: 1
    New Member
    		  
    #1

    Feb 18, 2006, 11:23 AM
    Qualified student loans
    Hi

    I am filling the resident 1040 form and I see a line for student loan interest deduction. Does credit card loans count? I took out some credit card loans while I was on F-1 visa but I paid a lot of interest on those loans last year.

    Can I take this deduction?

    Thanks in advance
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 18, 2006, 04:09 PM
    Falcon1:

    No, credit cards don't count. It must be a student loan taken from a bank or university which issues a Form 1098-E to record the interest.
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