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Which of my student loans can I claim on my tax refund? The unsubsidized or subsidized loan?

Asked by: dtba 731 views YA Discussion

I am a student and my loans are in my name. I have both subsidized and unsubsidized and I know that I can claim my student loans but which one should I claim or can I claim both?

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  • direct loan unsubsidized refund
  • direct subsidized loan refund
  • do i claim subsidized loan on tax return

4 Answers



  1. chatsplas on Feb 20, 2012 Reply

    Neither
    You don’t “claim” your student loans on your tax RETURN
    You file a tax RETURN to receive (hopefully) a tax REFUND
    You get an adjustment to income for STUDENT LOAN INTEREST repaid during the year, and which is reported to you on 1098-e

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  2. Pat on Feb 20, 2012 Reply

    You NEVER “claim student loans” on a tax return.

    READ THE DAMN FORM AND THE DAMN INSTRUCTIONS,

    it doesn’t matter whose name the loans are in.
    If you are a dependent on your parents’ return, THEY get to take the tax CREDIT for your education expenses.
    That’s on form 8863.

    If you are PAYING INTEREST on student loans, you can deduct it on line 33 of form 1040.
    http://www.irs.gov/index.html

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  3. tro on Feb 20, 2012 Reply

    student loan interest reported to you on 1098 T but there is a limit so you may not be able to claim all of it

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  4. Judy on Feb 20, 2012 Reply

    You can claim both, but only the INTEREST you paid on them.

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