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T
tgandara13
May 16, 2021
Question

If I entered the wrong amount of school loan interest paid in 2018, what can I do? It’s an 800 dollar difference.

  • May 16, 2021
  • 2 replies
  • 0 views
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2 replies

ColeenD3
ColeenD3
May 16, 2021

You can amend.

 

You can amend e-filed returns if they've been accepted; paper-filed returns may be amended once they've been mailed.

If your e-file is still pending, you won't be able to make changes until the IRS either accepts or rejects it. Don't know your e-file status? Here's how to look it up.

Select your tax year for amending instructions:

Hal_Al
Hal_Al
Employee
May 16, 2021

$800 of interest or $800 of tax.

The interest deduction reduces your taxable income. Assuming you are in the 12% tax bracket; 12% x 800 = $96 difference. 

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