turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

OUR40
New Member

I got student loans deferred after few payments. Is it worth paying $39.99 to upgrade from free edition to claim $773.69? I am in TX so do not have to pay state taxes.

I live in Texas so do not have state income tax. I use Turbo Tax free edition. To see if I get any money back from 1098-E, I have to upgrade Turbo Tax and pay $39.99. Will I even get money back on it? The interest received by the lender is only $773.69.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DDollar
Expert Alumni

I got student loans deferred after few payments. Is it worth paying $39.99 to upgrade from free edition to claim $773.69? I am in TX so do not have to pay state taxes.

If you are in the lowest tax bracket (12%) deducting $774 in student loan interest would save you $93 in federal tax.  You may be eligible for the TurboTax Free File Program.  It has a $34,000 adjusted gross income limit to qualify. See the following for more information: https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-freedom-edition


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies