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The Complete Idiot's Guide to Person-to-Person Lending by Curtis E. Arnold, Beverly Harzog

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Chapter 17
Receiving Statements and Filing Taxes
In This Chapter
• What you need to know about monthly and year-end loan statements
• What records you need to keep
• Deducting interest on your education loans
• Qualified educational expenses that you can deduct
• The rules for taking an education credit on your tax return
 
It can be quite boring to read financial statements. But you might find your P2P loan statements a little more interesting than most.
Why? Because getting a P2P loan is personal. You’ve taken a step toward being more in charge of your money. You’ve gotten (in most cases) a good interest rate. You made a big decision to bypass the bank. (Okay, some of you may not have had a choice.) But as we noted in an earlier chapter, there’s ...

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