Can I use the Free Edition if I want to deduct student loan interest?

Forum|Forum|6 years ago
June 6, 2019
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TurboTax Free Edition Online

cameaf

Employee

Yes, TurboTax Free Edition does support student loan interest entries. See the TurboTax FAQ below that provides instructions on how to enter into TurboTax:

https://ttlc.intuit.com/replies/4801974

naddan85

Why did TurboTax change this this year? I can no longer claim my student loan interest on the Free edition.

maxjam00

NO! The free turbo tax does NOT support student loan interest as a deduction. You can enter it... but the very next screen tells you that you will have to purchase the product to get the deduction. Needless to say this resulted in a colossal waste of time for me and my son when we attempted to use the "free" version to do his taxes.

VolvoGirl

Employee

There is also The Turbo Tax Free File program which is free for federal and state. And has more forms than the Federal Free Edition, like Schedules A, B, C , D, E, F, EIC, H, K-1, SE, etc.

NOTE: You will have to setup a new account with a new username and new password or it will take you back to regular Turbo Tax.

To qualify for the Free File website you just need to meet one of these 3 things.

AGI $36,000 or less.

Active duty military with AGI of $69,000 or less

OR qualify for EIC (earned income credit.)

In order to use the Free File program, you have to start it at a special website. Click on the Orange button I Qualify, Let's get Started and set up a NEW account

https://freefile.intuit.com/

deangelis317

At the end of filling in all forms, they try to charge $80 to enter the one number of Student Loan interest paid. ($40 for federal and $40 for state) I switched to Credit Karma Tax and it was totally Free! 2/14/20

ngt87

Student Loan Deduction is not included in the free edition as it requires filing a Schedule 1 in addition to a 1040. I paid to upgrade last year, but this year I had two state taxes, it would have been cheaper for me to file without the deduction. I ended up filing through myfreetaxes where everything was free.