If you paid any student loan interest in 2020, you can take a deduction on your 2020 return. Then you will need to upgrade from the free edition. You should be receiving a Form 1098-E Student Loan Interest Statement as well.
If you did not pay any student loan interest in 2020, you do not get to deduct.
In your situation, did you pay the $314 in 2020? If you did, you can deduct and need to purchase the upgrade to claim it. If you did not pay, in order to stay in the Free edition, you can simply remove the Form 1098-E or student loan interest worksheet related from the program. It is possible that the student loan information was carried over from 2019 TurboTax program.
To remove the form, here are the steps:
In TurboTax online,
- Sign into your account, select Pick up where you left off
- Select Tax Tools, click on the drop down arrow
- Select Tools
- Under Other helpful links, choose Delete a form
- Select Delete next to the form 1098-E or student loan interest related worksheet and Continue with My Return
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