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February 16, 2021
Question

When taking a standard deduction, do I get to enter mortgage and student loan interest also?

  • February 16, 2021
  • 1 reply
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1 reply

ColeenD3
February 16, 2021

Mortgage Interest is an Itemized Deduction and you can't take it in addition to the Standard Deduction. You can however, take your Student Loan Interest.

 

Here's how to enter your student loan interest. Follow these instructions whether or not you received a 1098-E from your lender:

  1. Open (continue) your return in TurboTax if you don't already have it open.
  2. Search for 1098-E and select the Jump to link at the top of the search results.
  3. Answer Yes to the question Did you pay any student loans?
    • If you land on the Here's your 1098-E info (or Here's what you paid in student loan interest) screen, you can either edit an existing payment or add a new one.
  4. Follow the onscreen instructions