Yes, any student loan interest paid and reported for the year 2016 can be included on your tax return. If you paid more than $600 in interest you should have received Form 1098-E which can be entered into TurboTax.
You may not receive a 1098-E if you paid less than $600 in interest. But you should still enter any amount of student loan interest you paid so you can get a possible deduction. Contact your lender if you don't know how much you paid during the tax year.
You can claim the deduction if all of
the following
apply:
- You paid interest on a qualified student loan in tax year 2016;
- You're legally obligated to pay interest on a qualified student loan;
- Your filing status isn't married filing separately;
- Your MAGI is less than a specified amount which is set annually; and
- You or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.
More information on deducting student loan interest can be found here: https://www.irs.gov/taxtopics/tc456.html
Please see these instructions for entering Form 1098-E in TurboTax: https://ttlc.intuit.com/replies/4801974
