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January 17, 2021
Question

I used a loan for my tuition but the loan didn't cover all my tuition I paid out of pocket for the rest of my tuition where do I put that in at ?

  • January 17, 2021
  • 2 replies
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2 replies

Employee
January 17, 2021

Both the tuition payments from your loan and the additional out of pocket tuition payments are eligible for education credit. You will report those expenses when you report your 1098-T from your school. 

DoninGA
Employee
January 17, 2021

When entering the Form 1098-T, for payments in box 1 enter the full amount paid for tuition include the loan payment and what you paid.

 

To enter, edit or delete Education Expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Education
  • On Expenses and Scholarships (Form 1098-T), click on the start or update button

Or enter education expenses in the Search box located in the upper right of the program screen. Click on Jump to education expenses

Hal_Al
Employee
January 17, 2021

You don't report the loan payments and out of pocket payments separately. You simply report the total expenses paid.  Loan money (but not scholarships) is considered to be paid by you.