» TheLaw.com legal advice forum » Business, Finance & Contracts » Tax » Tax Write off, school loans

Tax

 - 

Taxes, personal and business.


Tags
loans , school , tax , write

Reply
 
Thread Tools Display Modes
Old 12-31-2004, 12:48 PM   #1
GMorton
Registered User
 
Join Date: Dec 2004
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0 GMorton is on a distinguished road
Points: 939, Level: 7
Points: 939, Level: 7 Points: 939, Level: 7 Points: 939, Level: 7
Recent Activity: 0%
Recent Activity: 0% Recent Activity: 0% Recent Activity: 0%
Tax Write off, school loans

Jurisdiction/Place:

I owe $80K in student loans. My wife and I are buying a home. We have 1 child. I am being told that we cannot write off any of the interest of my loans because we make too much money--about $140,000 together. I am paying over $9k a year in loan payments but we are getting no shelter from this. The loans wont be paid off for at least 5 more years. I went to medical school but was given an academic dismissal (flunked out). Any solutions??
GMorton is offline   Reply With Quote
Reply

Bookmarks

Tags

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off

Forum Jump



IMPORTANT NOTICE: Nothing you read on The Law forums should be considered a substitute for professional assistance, including legal advice. The only legal advice you should accept is from a licensed legal professional with whom you have an attorney-client relationship. The Law Forums are intended to empower the average person with the benefit of the shared experiences of other consumers who have faced similar legal issues. Many of the posters are volunteers who may not have any legal training. The law may also vary in different states and jurisdictions from what you read here. All information and advice made available here is on an "AS-IS" basis. The Law Network, LLC does not warrant or guarantee the accuracy, completeness or usefulness of any material you read here, including the qualifications or titles of any person posting.