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Is it better to upgrade to TurboTax Deluxe if I am paying off student loans? Deluxe says "Covers Student Loan Interest". Will I receive more money back?

 
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MinhT
Expert Alumni

Is it better to upgrade to TurboTax Deluxe if I am paying off student loans? Deluxe says "Covers Student Loan Interest". Will I receive more money back?

If you have paid student loan interest, you'll need to upgrade to TurboTax Deluxe to claim the deduction. By claiming the student loan interest deduction, you'll reduce your tax liability and your refund will increase.

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MinhT
Expert Alumni

Is it better to upgrade to TurboTax Deluxe if I am paying off student loans? Deluxe says "Covers Student Loan Interest". Will I receive more money back?

If you have paid student loan interest, you'll need to upgrade to TurboTax Deluxe to claim the deduction. By claiming the student loan interest deduction, you'll reduce your tax liability and your refund will increase.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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