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jpgarmon1
New Member

where do I deduct education expenses (tuition,room, board, etc.) paid with student loan?

housing paid with student loan
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1 Reply
Hal_Al
Level 15

where do I deduct education expenses (tuition,room, board, etc.) paid with student loan?

 

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

  --Education Expenses and Scholarships (1098-T)

 

Note that you will just enter the expenses paid. You do not designate that the expenses were paid with loans. That's not relevant.  

 

You will also not enter room,  board and/or housing. Those are not qualified educational expenses for a tuition credit or for scholarships to be tax free. The fact that you paid housing with student loans is not entered in TT. 

 

Room and board (R&B) are qualified expenses for a 529 Plan or ESA distribution.  But to get the screen to enter R&B, you must first tell TurboTax that you had a 529/ESA distribution by  entering your form 1099-Q. Form 1099-Q must be entered before the 1098-T is entered. 

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