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New Member

It says I dont have student loans but I do

1 Reply
New Member

It says I dont have student loans but I do

First, you will want to revisit the Student Loan Interest Paid section of TurboTax to make sure all of your tuition information was entered correctly. 

Second, there is a limit on the amount of the tuition and fees deduction that can be claimed. If you qualify for the deduction, the maximum tuition and fees deduction in 2016 is $4,000, $2,000, or $0, depending on the amount of your modified adjusted gross income. See table 6.2 in this link for the chart:

To enter/review Student Loan Interest:

  • On the Tax Timeline, select "Federal Taxes" then select "Deductions and Credits".
  • Click "Check for more tax breaks" then select  "Skip to see all tax breaks".
  • Scroll down to the Education section and click "Show more" to expand the list.
  • Click "Start" (or Edit/Revisit) next to Student Loan Interest Paid (Form 1098-E) to review or enter information related to your student loan interest.

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