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July 14, 2020
Question

Why am I seeing a student loan section when my loans were paid off a few years ago?

  • July 14, 2020
  • 1 reply
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There's a section for student loans and I can't skip it. My loans were paid off a few years ago.

1 reply

March 24, 2021

TurboTax remembers some things so you don't have to enter them again, such as the name of your student loan lender.

 

Delete that entry if you paid off the loan.

  • Type 1098e in Search in the upper right
  • Select Jump to 1098e
  • On Here's your 1098-E info click on the trash can next to your old lender to delete the entry.

Student loan interest is interest you paid during the year on a qualified student loan. It includes both required and voluntarily pre-paid interest payments. You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status.

 

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