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February 4, 2021
Question

CARES Act - Employer Student Loan repayment

  • February 4, 2021
  • 1 reply
  • 0 views

Under the CARES Act, an employer (including a sole-proprietor) can make up to a $5,250 payment towards a student loan without the employer or employee being taxed.   Where is the correct filing location for this deduction in the self-employed version of Turbotax?

1 reply

Employee
February 4, 2021

Are you the employee receiving the benefit, or the employer providing the benefit?

DmoksAuthor
February 4, 2021

I would be both. 

Employee
February 4, 2021

I don't use the SE version of Turbotax very often.  It looks like on Schedule C it would go on line 14 "Employee benefit programs (not on line 19)".  Is there an entry like that?

 

@DoninGA  @Hal_Al