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"You may be able to deduct student loan interest that you actually paid in 2004 on your income tax return. If your student loan was made before Sep 1, 2004, you may be able to deduct additional amounts, such as loan origination fees and capitalized interest, not reported on this statement. However, you may not be able to deduct the full amount of interest reported on this statement."


"Box 2 indicates whether Box 1 includes loan origination fees and or capitalized interest received on qualified education loans made on or after Sep 1, 2004. For tax year 2004, loan origination fees and or capitalized interest was not captured for reporting purposes on our system

In addition, lenders are not required to report loan origination fees and/or capitalized interest for loans made before September 1, 2004

Borrowers may use any reasonable methods to allocate loan origination fees over the term of the loan for purposes of computing deductible interest. Borrows should consult IRS publication 970, Tax Benefits for Education for further information"

yup...that clears it up...clear as Mississippi Mud!

Lady I, going to do her taxes tonight on turbo tax...
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