You'll need to sign in or create an account to connect with an expert.
Paying off the student loan is not deductible on a tax return.
Only the student loan interest paid on the loan in 2020 can be entered on a 2020 federal tax return as an adjustment to income. Student loan interest paid is reported to you on a Form 1098-E
The other question you may have is: is the amount of the loan forgiven (eliminated) taxable to you.
It is if they issue a form 1099-C to you.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mbirkenholz
New Member
cmode85
New Member
holly-smigelski
New Member
bcvandaele
New Member
ed-herbeck
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.