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Should I report college tuition I have paid with student loans in the state of Texas?

Texas
Government loans and Sallie Mae Student Loans
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3 Replies

Should I report college tuition I have paid with student loans in the state of Texas?

Texas has no state income tax.  What does TX have to do with your question?  

**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.**

Should I report college tuition I have paid with student loans in the state of Texas?

Well I was trying to estimate my tax refund on turbo tax and the calculator asked for how much tuition I paid. However, it did not clarify if that included paying with student loans. 

Should I report college tuition I have paid with student loans in the state of Texas?

Q. Should I report college tuition I have paid with student loans?

A. Yes. Tuition, and other other qualified educational  expenses, paid with loan money, count toward claiming the education credit.  Loan money (unlike scholarships) is the same as your money, since it has to be paid back.

 

If you are claimed as a dependent, by your parents, they will claim the tuition credit, on their return.  You do not claim it on your return, even though it was paid with "your money".

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