I had to take IRA funds to pay down high interest credit cards. It says my income is too high to take student loan interest ded. Is there a way to get this deduction?
Announcements
Our Community is moving to a new platform on June 8th! Read more here!!
Do you have a TurboTax Online account?
We'll help you get started or pick up where you left off.
I had to take IRA funds to pay down high interest credit cards. It says my income is too high to take student loan interest ded. Is there a way to get this deduction?
posted
June 3, 201912:57 PM
last updated
June 03, 201912:57 PM
Connect with an expert
x
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
I had to take IRA funds to pay down high interest credit cards. It says my income is too high to take student loan interest ded. Is there a way to get this deduction?
Unfortunately, no.
Your IRA is taxable income that considered in the income calculation for the student loan deduction.