The Best Tax Software for People with Student Loans

If you have student loans, the IRS says you can get a tax deduction for some of the interest you’ve paid.

It’s easy to claim your tax break - if you know where to look for it. But if you’re new to filing taxes, or your return is a little more complicated this year, you need a solution that offers support and the assurance that you’ve gotten what you deserve.

There are many options to choose from at a range of price points. But your tax filing solution doesn’t have to be expensive. We’ve partnered with TaxSlayer to show you how easy and affordable it can be to file your taxes AND get the tax deductions you deserve at no extra cost.

If you’re ready to just dive right in, you can check out TaxSlayer here >>

The Student Loan Interest Deduction

To be eligible for the Student Loan Interest Deduction, you have to meet a few requirements.

• No one else can claim you as a dependent on their return (see -> My Parents Claimed Me As A Dependent)
• Your filing status is anything other than married filing separately
• You are legally obligated to pay back the qualified student loan
• You are paying interest on a qualified student loan

Student loan interest paid is reported on a 1098-E tax form. You should have received this in the mail in January or February.

If you haven’t received it yet, it could be for a couple of reasons:

1. You only receive the form if you paid over $600 in student loan interest
2. It could simply be in your secure online mailbox account if you opted for paperless statements

Tax Help For Side Hustlers With Student Loans

One way to get out of student loan debt faster is to bring in extra income with a side hustle. If you’re looking for a great gig opportunity, check out our list of best side hustle ideas.

When it comes to your taxes, side hustle income might make things a little more challenging. If you drive rideshare or deliver food, you could find yourself getting a 1099-MISC for the income you earned. You need to report this income, but you can also claim a deduction for certain expenses as well. Did you know, for example, that you can write off things like mileage, certain electronics, and even home office space?

This is another area where TaxSlayer really shines. The Self-Employed Edition provides extra support when you file with a 1099 or need to complete a Schedule C. Even if you have a complex side business, TaxSlayer has you covered. You get all the forms, plus all your qualifying business deductions with their Self-Employed Edition.

You can even ask a self-employed tax expert your questions and get useful tips for filing year-round.

Get started with TaxSlayer here >>

Low Cost Tax Assistance

With a lot of tax prep services, the price you pay depends on which forms you end up needing to fill out. But with TaxSlayer all your forms and tax breaks are included. Their pricing is based on the level of support you choose instead of the forms you enter.

All editions include unlimited phone and email support. When you upgrade to TaxSlayer Premium, Self-Employed, or Ultimate, you can ask your questions through live chat. You can even speak one-on-one with a tax professional if you have an especially challenging or specific circumstance.

For complete peace of mind, you can also choose to receive audit assistance or protection for up to three years after your return is submitted.

The bottom line is that you can get the help you need at a price you can afford.

Check out TaxSlayer here and get started >>