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Hello all -

I started graduate school last week. I have taken out my first loan to pay for my first year, which was processed at the end of 2004. I received my Form 1098-T this week, and it denotes qualified tuition and related expenses since the tuition was paid by my loan in the end of 2004. However, I have not yet made a payment on the loan. Therefore, I assume that the amount noted on my 2004 1098-T is not tax deductible. Am I correct that I can only take deductions once I start paying on the loan and have an out of pocket expense?

Thanks,

Andy
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