Can I claim my student loan?
by TurboTax•225• Updated 8 months ago
You can't claim the loan itself, but 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.
For general state-specific questions, find your state’s Department of Revenue here.
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