Student Loan Payments

[Miss A]

Quick question, I have a degree in Early childhood education, And I was wondering if the loan payments are tax deductible for my business? I am pretty sure that they aren't, but I wanted to double check.

[Blackcat31]

Quick question, I have a degree in Early childhood education, And I was wondering if the loan payments are tax deductible for my business? I am pretty sure that they aren't, but I wanted to double check.

I "think" the interest is deductible though.....

https://www.irs.gov/publications/p970/ch04.html

[TomCopeland]

education

Quick question, I have a degree in Early childhood education, And I was wondering if the loan payments are tax deductible for my business? I am pretty sure that they aren't, but I wanted to double check.

It depends. If you already have a post secondary degree you can deduct it. If this is your first post secondary degree, you can't. See my article: http://tomcopelandblog.com/when-are-...s-deductible-2