No, you can skip it and come back to it later if you choose to. You are not required to take the deduction for student loan interest. However, your lender should send you the 1098-E if you paid over $600 in interest and you may be able to find the document online. It is easy to report it in TurboTax so if it is any amount that will help you tax-wise, I suggest claiming it.
The interest you paid during the year on a qualified student loan used to pay for tuition, fees, room and board, books and supplies for yourself, your spouse, or your dependent is deductible. This includes both required and voluntarily pre-paid interest payments.
Student loan interest is reported on Form 1098-E. If you paid interest of $600 or more on a qualified student loan during the year, you'll receive this form from your lender.
Here's how to enter your student loan interest in TurboTax. We'll ask you questions to make sure you qualify and also calculate how much of a deduction you’re entitled to. You claim this deduction as an adjustment to income, so you don't need to itemize your deductions.
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