I defaulted on my N Y stat higher education loan but then paid entire loa incuding penalties and interest do i get a tax break for any of that

[MichaelMc · Accepted solution]

Student loan interest is deductible. Penalties are not deductible.

Any payments that you make on your student loans will consist of principal and interest. The interest portion, up to a maximum of $2,500.00, is deductible from your income.

Your loan servicer should provide you with a copy of Form 1098-E by January 31 of each year, indicating the amount of interest paid on your student loan the previous year. Enter this information into TurboTax and your deduction will be calculated.

[terrancekreider2]

That loan had been pain years ago when I first got sober how do I get the interest paid in that loan now