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Level 1
January 6, 2024
Question

If I took a personal loan out to consolidate only private student loans, can the interest I have paid so far be used as a tax deduction?

  • January 6, 2024
  • 2 replies
  • 27 views
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2 replies

DoninGA
Level 15
Level 15
January 6, 2024

Personal loans and the interest paid on personal loans are not deductible on a tax return.

Hal_Al
Level 15
Level 15
January 7, 2024

Only if the lender issues a form 1098-E and that's unlikely.