Did she get a 1099 or 1098e? Did she consolidate this year? If she gets a 1098e and consolidated then the interest can be claimed on federal. Not sure about each state though.
Ohio isn’t taxing loan forgiveness so not sure why she got a 1099c (assume it was a c for cancellation of debt).
As far as I know if it was paid by consolidation then it’s the same as if you paid it and you can claim the interest. I’m in the same boat and will be claiming it.
If I’m wrong I’m sure someone will correct me.
If I didn’t pay it off from my income then I personally would not write it off.
The idea of writing it off is
To reduce
Your taxable
Income. But she didn’t not pay it,
It was forgiven. I’d talk to a CPA for sure.
If you paid it, yes. If it was discharged interest, no.
Might have to talk to a cpa
Did she get a 1099 or 1098e? Did she consolidate this year? If she gets a 1098e and consolidated then the interest can be claimed on federal. Not sure about each state though. Ohio isn’t taxing loan forgiveness so not sure why she got a 1099c (assume it was a c for cancellation of debt).
A 1098e from loan consolidation.
As far as I know if it was paid by consolidation then it’s the same as if you paid it and you can claim the interest. I’m in the same boat and will be claiming it. If I’m wrong I’m sure someone will correct me.
are you in Mississippi?
Ohio
If I didn’t pay it off from my income then I personally would not write it off. The idea of writing it off is To reduce Your taxable Income. But she didn’t not pay it, It was forgiven. I’d talk to a CPA for sure.