Quick question: Are loans reflected in next year's tax filing?

[YFR]

Aside from applying for deductions for interest paid, do I need to list my federal loans anywhere on next year's taxes?

Thanks.

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[mpp]

No. Loans are not income.

 

[lmat27]

So does this mean since I'll be a first year this Fall and I made only half of my normal yearly salary then I'll get a hefty tax return in April??

 

[ScreenName]

Yes, plus you can get a tax credit of up to $2000 for the tuition you paid.

 

[TSD77]

Yes, plus you can get a tax credit of up to $2000 for the tuition you paid.

Since I graduated med school this year, will I be able to use the $2000 tutition tax credit for my 2005 taxes? My school's tuition for the second half of my senior year was due in Dec 04, but the money was applied for school in 2005. Any info is appreciated