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Subject:  Student Loan Interest Deduction Date:  3/6/2001  7:19 PM
Author:  Kickpike Number:  47821 of 127546

I have just read the 20 tax tips and noticed a slight error on the Student Loan Interest Deduction (#9). A person may actually deduct student loan interest paid during the year and can continue to do this for 60 months after payments are required. This, as it turns out, can greatly change the perception of this deduction. Instead of going to school for 4 years and only being able to deduct 12 months of student loan interest paid directly from income, you can actually deduct it for 60 months. The phrase 'From The Date Of The First Required Payment' is crucial in lowering taxable income in this case.
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