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April 14, 2022
Question

It keeps circuling trying to ask me to type "TP Qualified Loan Amount" on MN state tax. It won't do anything- won't let me finish- how can I finish this form??

  • April 14, 2022
  • 1 reply
  • 0 views
I tried calling and the lady asked what I needed...then suddenly without even saying anything, I was on a message and didn't even get to ask that question after waiting all the time for that call.

1 reply

DMarkM1
April 14, 2022

This related to the Student Loan Credit in the MN state return.  Revist the MN state interview and continue through to the Credits section. Select the "Student Loan Credit" topic and indicate "No" you did not have a qualifying education loan payments.   

 

The error is generated when education loan payments do exceed the 10%-of-adjusted-gross-income floor.  The credit only applies to any amount of a student loan that exceeds the 10% threshold.  When that is not true a negative shows up and causes the error message.  

 

You could also delete the MN M1SLC form after answering "No" to the loan question.

 

In TurboTax online versions:

  1. "Tax Tools" in the left hand menu
  2. "Tools"
  3. "Delete a Form" in the main screen
  4. "Find the MN M1SLC and "Delete"
  5. Confirm Deletion

 

 

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