Are Student Loans Taxable
March 5th, 2010Question: Should I file an income tax?
I’m a grad student right now, have no income and only have student loans through the government. There is nothing taxable that I have done in the last year. Is there any reason/benefit for me to file income taxes?
Answer: Last year stimulus required filing. You can follow the questionnaire on IRS site to determine if you need to file:
http://www.irs.gov/individuals/students/index.html
Good News: More Money Available in Education Tax Credits and Deductions
RESTON, Va.—-As tax deadlines approach, college students and their parents take note: new tax rules may help you keep more money in your pocket. Taxpayers who paid college tuition or interest on student loans for themselves or their children should ensure they are taking advantage of tax savings, says Sallie Mae, the nation’s leading saving, planning and paying for education company.
Tax Tips & Information : About Tax Deductions for College
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