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Message: <blockquote data-quote="anitacrrl" data-source="post: 2725256" data-attributes="member: 912667">I am in college and I know that my annual year income is less than the amount it needs to be to take the deduction but what I don't know is if I can take the deduction if I haven't started paying it back yet. On the tax notification form 1098-t the amount appears in box 2 (amounts billed for qualified tuition and related expenses)It's confusing because you can only take the deduction within your first four years of college but yet i don't have to repay the loan until I'm out of college but that doesn't mean that I'm not paying for tons of college expenses like books, fees etc??</blockquote>