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I consolidated my loans into a direct consolidation loan and went from three lenders to two.
So when the loans were consolidated there was also interest repaid and it showed up on my 1098 form. I understand that up to $2000 may be deducted from taxes. But this interest was not repaid by me, but buy the lender that took on the consolidation.
Anyone in this situation? Will you be deducting this interest since it shows up on 1098 and there doesn't seem to be a designation of who paid it?
So when the loans were consolidated there was also interest repaid and it showed up on my 1098 form. I understand that up to $2000 may be deducted from taxes. But this interest was not repaid by me, but buy the lender that took on the consolidation.
Anyone in this situation? Will you be deducting this interest since it shows up on 1098 and there doesn't seem to be a designation of who paid it?
