topic I got a loan to pay divorce settlement in After you file

I got a loan to pay divorce settlement

burgrn90 — Thu, 06 Jun 2019 09:56:28 GMT

My ex wife's student loan is now my responsibility. In a settlement with Reimer Law from a lawsuit I am paying $43.75 per week until the total loan in excess of $10,000 is paid in full. Can the $2,275 I paid in last year be deducted?

You can deduct the full amount. You can only deduct the i...

MinhT — Tue, 10 Mar 2020 20:57:16 GMT

You cannot deduct the full amount. You can only deduct the interest part as a student loan interest deduction.

Where do I add the deduction? Is it under tax breaks?

burgrn90 — Thu, 06 Jun 2019 09:56:32 GMT

Where do I add the deduction? Is it under tax breaks?

Go to Federal Taxes > Deductions & Credits > Education >...

MinhT — Thu, 06 Jun 2019 09:56:33 GMT

Go to Federal Taxes > Deductions & Credits > Education > Student loan interest (form 1098-E)

Ok, so this is a settlement payment from a lawsuit after...

burgrn90 — Thu, 06 Jun 2019 09:56:34 GMT

Ok, so this is a settlement payment from a lawsuit after a divorce. I make the payments directly to the Law office from the suit. The original loan was through National Collegiate Student Loan Trust but was sent through the courts soon after my divorce settlement. I did not receive a 1098-E. Is that required to file?

You need to obtain the amount of interest from the law firm.

MinhT — Thu, 06 Jun 2019 09:56:36 GMT

You need to obtain the amount of interest from the law firm.

ok, thank you

burgrn90 — Thu, 06 Jun 2019 09:56:37 GMT

ok, thank you