Minnesota student loan payment deduction and loan totals question

[PedroMN]

First let me say it would be nice if Turbo tax would add some information buttons to some of these tax questions the software uses. Just to provide some background on why they are asking and information to help the user make a more informed answer.

I have parent plus loans that are in my name for my daughters education. She graduated several years ago and since they are in my name I have been reporting student loan interest on my taxes now for several years.  This year the State of Minnesota is asking if any qualified payments were made? well the loans were used for a qualifying school so is that what they mean by "qualified payments"?  And yes, I have made payments over $12,000 this year.  Then they ask how much the loans were for, I am assuming that is the starting amount of the loans and not the current balance of the starting balance on 1/1/20? Again, turbo tax doesn't offer up any clarifying information. I am assuming they want the amount of the loans because they dont have access to that information since they are federal loans?

[AmyC · Accepted solution]

MN is still updating forms. I was on their website earlier with another issue. The state is working to update forms and get things ready for the February 12 opening. Once they finalize a form, then TurboTax can update the program. It is very frustrating.

This is what the website has right now, 

Student Loan Credit

Minnesota residents who make payments on their own postsecondary education loans may qualify for a nonrefundable credit. For married couples, each spouse may qualify for this credit.

Last Updated: December 22, 2020

Please follow the link for questions and answers. It has great information, just not fully updated yet.

[PedroMN]

Now when I update my selection to NOT having any qualified student loans expenses for the State of MN, it is still applying the credit to my return and prompting me for the loan amount? Is this a software glitch? How do I remove that credit?

[AmyC]

See How to Delete  and get rid of that form for MN student credit. Schedule M1SLC, Student Loan Credit is showing as available now. There are no known issues. If deleting the information does not work, you may need to clear cookies and cache or even change browsers. If all fails,  you can fill this form out for someone to call you.

@PedroMN