Ask Experts Questions for FREE Help !
Ask
    danaker's Avatar
    danaker Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 18, 2009, 11:05 AM
    Taking off sales tax and interest on student loans
    My daughter baught a new car in 2008, is the sales tax or the loan interest deductable with out itemizing deductions Also can you deduct interest on student loanes without itemizing?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 18, 2009, 11:07 PM

    Sales tax deduction is itemized deduction.
    Student loan interest deduction is not an itemized deduction. It is adjustment deduciton on line 33 of Form 1040.
    Read more at Your U.S. Tax Return: Student Loan Interest Deduction
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Paid Loan Intrest/Amount in India for Student in USA [ 1 Answers ]

Hello Tax Eperts, For a student,F-1, in USA if he pays back his Education Loan in India, can he get any benefits by indicating that Amount/Intrest while filling 2008 Tax? If yes what point should be considered while claiming?

Student loans [ 5 Answers ]

Can you file bankruptcy on a student loan in the amount of 200.000

Student loans [ 4 Answers ]

What can a person do if they consolidated a student loan with a spouse and later got divorced. The student loan is a stipulation in the divorce decree, but apparently can not be upheld in family court. The question is now that the ex spouse has not paid their portion from the divorce decree, they...

Student Loans [ 2 Answers ]

I have Canadian/Ontario Student loans that have been "sold" to debt collection agencies. I had somenegative experience with them (they were really rude when I wasn't paying) so I stopped taking their phone calls. Now they are threatening legal action. What is the statue of Limitations on this...

Student Loans [ 2 Answers ]

My total monthly bills add up to more than I make, now that my student loans have come out of forebearance. I really want to start paying them down but cannot afford the $160/ month they require. Before this last time I went on forbearance, I offered to pay $50 per month and the student loan...

View more questions Search