I have just e-filed my Maine state return, and I forgot to include extra documentation required for the Student Loan Repayment Tax Credit (SLRTC) for Maine. How do I fix?

[JesseG689]

This is my first year filing for the Student Loan Repayment Tax Credit (SLRTC) for Maine, and I just found out more documentation (copy of transcript, proof of loans) is required according to the Maine website: https://www.maine.gov/revenue/faq/student-loan-repayment-tax-credit#q12

I wasn't notified by TurboTax about extra documentation, so I mistakenly didn't think to look. How do I correct my state return and upload these documents?

Thanks.

[xmasbaby0 · Accepted solution]

You cannot make changes to a pending return.  Wait for it to be processed and amend later if necessary.

[JesseG689]

Thank you, I will wait then.

[radbrad_dsm]

Did you get this resolved? I haven't filed yet and I'm unsure how to provide the documents. 

[JesseG689]

Yes, I ended up getting the tax credit. I simply went and submitted my Maine state return electronically through TurboTax without any documentation and they accepted it.

A few days later, I received a letter in the mail from Maine Revenue Services which listed all of the documents that I needed to submit to them. This letter directed me to their Maine Tax Portal website (https://revenue.maine.gov/) where I was able to submit all of the documents electronically. I received my state tax return a few business days after that.

Hope this helps!

[joetuccijr]

I do not see where I can claim this credit in the software. I have in the past before the name-change, but i cannot find the option now in the Maine section of filing. Can you explain where?

[AmyC]

Follow these steps:

1. Open your Maine return and answer the questions. 
2. Continue past any other additions? 
3. Continue past any other subtractions?
4. Continue answering questions until you reach Credit for Student Loan Repayment, 
5. Select Yes.
6. Enter date graduated
7. Enter location of college
8. Enter allowed amount - up to $2500 or if STEM, up to $3,500. Do not enter more than you are allowed.
9. Continue

@joetuccijr 

[MPelletier207]

For the eligible amount - is it the FULL AMOUNT paid to the lender over the year, or just interest??

[AmyC]

The full amount paid up to $2,500. There is a lifetime credit  limit of $25,000 (for example: $2,500 x 10 years)

Reference:

SLRTC FAQs.

[samr2020]

This may be a dumb question, but how did you know how much $ to enter for “amount of eligible payments”? Did you just add up the amount you paid towards your loans in 2024 and write that?

[ThomasM125]

Per this from the Maine Revenue Services, eligible loan payments are payments on loans taken out in the pursuit of an associates, bachelor's or graduate degree from an accredited Maine or non-Maine community college, college, or university after 2007:

So if your payments qualify, you would enter the total of such payments made in 2024.

@samr2020