topic student loan interest? in Get your taxes done using TurboTax

student loan interest?

aaronmdaves — Sun, 27 Jan 2019 20:54:21 GMT

Hi,
I entered by student loan interest info & submitted it, but TurboTax says I have to pay 39.99 for them to file it. I get to the final page before I submit & TurboTax says I'll receive $950 in refund, but have to pay $39.99 for student interest to go through. I redid my whole application, without entering student interest & still got $950 in returns on the review page. However, it's free and I no longer have to pay $39.99

My main question is how do I know if I'll get any of my student interest back in returns? Should it not say how much I'll get back on the review page? Or do I have to submit the entire application before I know how much I'll get back in student interest?

Re: student loan interest?

Auburn Marshall — Wed, 13 Mar 2019 16:18:02 GMT

You don't actually get the interest paid back per se. It is a deduction from income on your tax return.

There are a couple reasons why the student loan interest may not affect your return:

1. You are filing Married Filing Separately.

2. Your Modified Adjusted Gross Income is too high.

If it is not worth it to put the interest paid on there, then just don't add it in.