Med School Loan Payments Not Deductible, 6th Circ. Says

Law360, New York (February 5, 2014, 5:13 PM EST) -- The Sixth Circuit ruled Wednesday that payments for the principal and interest on medical school loans are considered a personal expense and are therefore not tax deductible, refusing to revive a doctor's suit against the Internal Revenue Service.

The precedential decision, which affirmed a previous ruling by a magistrate judge, brings to an end a case that's been ongoing since 2012, when Dr. Tripp Dargie and his wife Holley Dargie brought a taxpayer lawsuit against the IRS. They claimed the IRS had improperly denied them a...
To view the full article, register now.