Can I Claim The Standard Deduction/personal Exemption And Student Loan Interest On The Same Form?
I am 31 years of age, independent. Which form do I use, if I qualify?
I made $1,002 in student loan interest payments, and contributed $520 to the Flexible Spending Account.
How do I qualify? Can I combine the student loan interest payments, FSA and the standard deduction, plus the one personal exemption on the same form? If so, which one?
Chuckie O said
am October 28 2009 @ 9:32 pm
They all go on various places on the 1040 form.
Student loan interest on page 1, standard deduction/personal exemption on page 2, and FSA not at all (should have been accounted for from your W-2)
StephenW said
am October 29 2009 @ 1:59 am
The FSA contribution is already subtracted on your W-2 by your employer; you do not need to claim it separately.
The student loan interest and the personal exemption can both be claimed on one Form 1040.
travelgu said
am October 29 2009 @ 6:45 am
1040. The FSA is not a deduction.
TigerWoodsSuck said
am July 30 2010 @ 10:07 am
Business Technology: Can I claim the standard deduction/personal exemption and student loan interest on the same form? http://bit.ly/amY10j