The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/can-anyone-point-me-to-the-tax-law-underlying-16299166.aspx

Subject:  Re: 60 Month Period for Student Loan Interest Date:  12/17/2001  3:35 PM
Author:  ptheland Number:  56078 of 121114

Can anyone point me to the tax law underlying this rule?

You can look at code section 221 and Proposed Reg 1.221-1.

You're looking at the first 60 months that payments are required. I assume payments were required or you would not have defaulted. So I'm pretty sure those months count toward the 60 month limit.

The pain may not be too bad, as the 60 month limit is scheduled to go away for 2002.

--Peter
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us