My taxes are asking if I made a qualified education loan payment in 2023. How do I know if I made qualified education loan payments in 2023 and what are they?

Forum|Forum|2 years ago
March 5, 2024
1 reply
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I have been paying back monthly on my direct student loans and private but I don't know if Turbo tax is asking me about that or something else...

TurboTax Deluxe Online

TomK2023

That's it. Are you making student loan payments (e.g., to a financial institute... not your "Uncle jake").

You can take a tax deduction for the interest paid on student loans that you took out for yourself, your spouse, or your dependent. This benefit applies to all loans (not just federal student loans) used to pay for higher education expenses. The maximum deduction is $2,500 a year.

@rany2019

[Edited 3[/05/24 | 12:08pm PST]

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rany2019Author

Okay, but it's asking the total amount of qualified student loans I used to pay for college. It won't let me enter an amount above $5,000. My loan amount I used was more than that, so am I doing this wrong or do I just enter $5,000?