I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

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I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

STUDENT LOAN INTEREST

Only the person whose name is on the student loan and who is legally obligated to pay the loan can deduct the student loan interest. If you did not sign or co-sign for the loan you cannot deduct the interest.

You cannot deduct student loan interest if you are being claimed as someone else’s dependent, or if you are filing as married filing separately.

The student loan interest deduction can reduce your taxable income by up to $2500

There is a phaseout for the Student loan interest deduction, which means the amount you can deduct gets reduced when your modified adjusted gross income hits certain income levels and is even eliminated at certain income levels -

• If your filing status is single, head of household, or qualifying widow(er), then the phaseout begins at $65,000 until $80,000, after which the deduction is eliminated entirely.

• If your filing status is married filing joint, then the phaseout beings at $130,000 until $160,000, after which the deduction is eliminated entirely.

Enter the interest you paid for your student loan by going to Federal>Deductions and Credits>Education>Student Loan Interest Paid in 2018 (Form 1098E)

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

The program would have given you an explanation on why the student loan interest could not be entered. What is the explanation?

I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

STUDENT LOAN INTEREST

Only the person whose name is on the student loan and who is legally obligated to pay the loan can deduct the student loan interest. If you did not sign or co-sign for the loan you cannot deduct the interest.

You cannot deduct student loan interest if you are being claimed as someone else’s dependent, or if you are filing as married filing separately.

The student loan interest deduction can reduce your taxable income by up to $2500

There is a phaseout for the Student loan interest deduction, which means the amount you can deduct gets reduced when your modified adjusted gross income hits certain income levels and is even eliminated at certain income levels -

• If your filing status is single, head of household, or qualifying widow(er), then the phaseout begins at $65,000 until $80,000, after which the deduction is eliminated entirely.

• If your filing status is married filing joint, then the phaseout beings at $130,000 until $160,000, after which the deduction is eliminated entirely.

Enter the interest you paid for your student loan by going to Federal>Deductions and Credits>Education>Student Loan Interest Paid in 2018 (Form 1098E)

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

No explanation was given.

I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

I was married in 2018 and we are filing separate returns. If I can't claim a deduction on my student loan interest, then this is why.

My income is below the phaseout and the interest is below the cap of $2500.

I want to claim the interest on my student loans as a deduction as I have done in the past. Now, I am being told by Turbo Tax that I can't claim it as a deduction. Why?

Since you are filing as Married Filing Separately you cannot claim any type of education expenses or credits, including student loan interest payments.

See this TurboTax support FAQ - https://ttlc.intuit.com/community/married/help/is-it-better-for-a-married-couple-to-file-jointly-or-...

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