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How do I list public service loan forgiveness for the state of Mississippi? (I think this is not taxable by the federal govt.

This is for PSLF for working for the fed govt for 10+ years.
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Accepted Solutions
DaveF1006
Expert Alumni

How do I list public service loan forgiveness for the state of Mississippi? (I think this is not taxable by the federal govt.

That is correct.  It is not taxable on the federal level but is taxable in the state of Mississippi.  the next thing is, how do we declare this in your Mississippi return. 

 

  1. Log into Turbo Tax
  2. Select the State Taxes Section located in the left pane of your program
  3. There will be a section that asks if there is any other income and loss.  Here is where you will enter your PSLF income and amount.
  4. As a FYI, I have included a screenshot on how to include this in your Mississippi return.
  5. Note: Ignore the three bottom lines in this example. We are only concerned about the first entry.

 

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2 Replies
DaveF1006
Expert Alumni

How do I list public service loan forgiveness for the state of Mississippi? (I think this is not taxable by the federal govt.

That is correct.  It is not taxable on the federal level but is taxable in the state of Mississippi.  the next thing is, how do we declare this in your Mississippi return. 

 

  1. Log into Turbo Tax
  2. Select the State Taxes Section located in the left pane of your program
  3. There will be a section that asks if there is any other income and loss.  Here is where you will enter your PSLF income and amount.
  4. As a FYI, I have included a screenshot on how to include this in your Mississippi return.
  5. Note: Ignore the three bottom lines in this example. We are only concerned about the first entry.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

How do I list public service loan forgiveness for the state of Mississippi? (I think this is not taxable by the federal govt.

Wow that was a quick response and exactly what I needed. Thank you so much!

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