Tax Refund Student Loan Interest
Question: I’m trying to amend my tax return, but it says I now owe them money when I’m already getting a refund. Reason?
I’m trying to put my Student Loan Interest in my tax return to get a bigger refund, but when I do that, it says I owe the government money. Anyone know why this is and what I should do?
Answer: Hi!
It would seem that you have made an incorrect entry on the amend. Without seeing it it would be difficult to find. You are correct however that adding a deduction for student loan interest should get you more money. I would suggest you go over all the questions and answers again. Be sure to read everything all the way through before you give an answer on that line. That is the biggest mistake made. Not reading to find out exactly what is being asked for. If you cannot find it I would suggest seeking a tax professional in your area. You can reach me through my email on my profile page.
Hope this helps.
Virginia Cunning, Enrolled Agent, Master Tax Advisor
H & R Block**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
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Now it’s time to time shift
Pause before you record a loss or profit on this year’s tax return, writes David Potts.
