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D
dancer270
March 9, 2021
Question

Where do I enter payments toward student loans?

  • March 9, 2021
  • 1 reply
  • 0 views
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1 reply

M
MinhT1
March 9, 2021

You do not enter payments towards your student loans on your tax return.

 

Only the interest you paid on the student loans (as the borrower or the co-signer) up to $2,500 are deductible. This interest is reported on form 1098-E.

 

Please read this IRS document for more information.

 

To enter your form 1098-E in TurboTax, follow these steps:

  1. Open your tax return
  2. Click on Federal in the left panel.
  3. Click on Deductions & Credits at the top
  4. Scroll down to the Education section. Click Show more 
  5. Select Start next to Student Loan Interest Paid (Form 1098-E)
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