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In 1997 I borrowed $2,000 for massage school from my cousin. I paid it back in 2011. Can I deduct it this year?

Asked by: 33 views Tax Discussion

I am self-employed and file a Schedule C this year, but no longer work in the massage field.

3 Answers



  1. Ryan M on Apr 06, 2012 reply

    Of course not.

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  2. Wayne Z on Apr 06, 2012 reply

    No.

    Paying back a loan is never a deduction.

    If the school qualified, you would have had to take an education credit back in 1997. If you did not do that, it is too late.

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  3. tro on Apr 06, 2012 reply

    deduct what? the school? no
    the school is probably totally unrelated to your current self employment and has no business purpose

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