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Daycare and Taxes>Non-Daycare Related Tax Question
Josiegirl 03:06 AM 02-02-2016
Hi Tom, hope you can help me with this. Both my dds are now college grads. Some loans are in their names(Stafford, Sallie Mae, etc.) and other loans are in my name(parent plus loans). Can they only use the loans under their name for their taxes or is there any way they can include the Parent Plus loans too? They pay it all, if that makes any difference.
Thanks!!
Thanks!!
TomCopeland 10:51 AM 02-02-2016
Originally Posted by Josiegirl:
Hi Tom, hope you can help me with this. Both my dds are now college grads. Some loans are in their names(Stafford, Sallie Mae, etc.) and other loans are in my name(parent plus loans). Can they only use the loans under their name for their taxes or is there any way they can include the Parent Plus loans too? They pay it all, if that makes any difference.
Thanks!!
I don't know the answer to your question. See IRS Publication 970: https://www.irs.gov/publications/p970/ch04.htmlHi Tom, hope you can help me with this. Both my dds are now college grads. Some loans are in their names(Stafford, Sallie Mae, etc.) and other loans are in my name(parent plus loans). Can they only use the loans under their name for their taxes or is there any way they can include the Parent Plus loans too? They pay it all, if that makes any difference.
Thanks!!
mommyneedsadayoff 11:39 AM 02-02-2016
Originally Posted by Josiegirl:
Hi Tom, hope you can help me with this. Both my dds are now college grads. Some loans are in their names(Stafford, Sallie Mae, etc.) and other loans are in my name(parent plus loans). Can they only use the loans under their name for their taxes or is there any way they can include the Parent Plus loans too? They pay it all, if that makes any difference.
Thanks!!
I had a PLUS loan through my dad and could not deduct interest on it, only my stafford loans. He could though, so if it is a parent loan, you can deduct the interest on your taxes. (Not an accountant, just based on what our accountant saidHi Tom, hope you can help me with this. Both my dds are now college grads. Some loans are in their names(Stafford, Sallie Mae, etc.) and other loans are in my name(parent plus loans). Can they only use the loans under their name for their taxes or is there any way they can include the Parent Plus loans too? They pay it all, if that makes any difference.
Thanks!!
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