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Does anyone know if this could still be approved for 2018? I'm a grad student who works part-time and even invests quite a bit into tuition. I was definitely not expecting that I wouldn't be able to deduct some of this on my taxes. Hello, much smaller refund than I anticipated!
Does anyone know if this could still be approved for 2018? I'm a grad student who works part-time and even invests quite a bit into tuition. I was definitely not expecting that I wouldn't be able to deduct some of this on my taxes. Hello, much smaller refund than I anticipated!
Yes.
You can also still deduct Student Loan Interest. This item just no longer shows up as a line on your 1040. You would instead have to file a Schedule 1 form in addition.
I did the exact same thing and the IRS approved my return, no issues.
Last edited by citidata18; 02-04-2019 at 10:58 AM..
Does anyone know if this could still be approved for 2018? I'm a grad student who works part-time and even invests quite a bit into tuition. I was definitely not expecting that I wouldn't be able to deduct some of this on my taxes. Hello, much smaller refund than I anticipated!
IRS allows up to $2500 in student loan interest deduction for qualified filers.
You can also still deduct Student Loan Interest. This item just no longer shows up as a line on your 1040. You would instead have to file a Schedule 1 form in addition.
I did the exact same thing and the IRS approved my return, no issues.
Just an FYI, but the IRS doesn’t “approve” returns.
Roll your eyes, but the distinction is very important. The IRS can accept and process your return, and then two years later, perform an audit and assess significant taxes, penalties, and interest on that return.
Filing a return and not receiving a notification of audit means nothing. It certainly doesn’t mean that the return has been “approved” or that you won’t face an audit in the future. In fact, NO conclusion can be drawn about whether or not you will face a future audit, or whether the return is “correct.”
It's an informal online forum where an average joe simply asked a question and was given an answer where the point being made was clear (even by you).
It's unfortunate that you like to get stuck on technicalities (username definitely checks out). But have fun at it, because I'm not going down that rabbit hole with you.
It's an informal online forum where an average joe simply asked a question and was given an answer where the point being made was clear (even by you).
It's unfortunate that you like to get stuck on technicalities (username definitely checks out). But have fun at it, because I'm not going down that rabbit hole with you.
It wasn't a technicality. You claimed the other guy was good to go vis a vis tax law because your return was approved and it wasn't.
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