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Quicken Classic for Windows
Budgeting and Planning Tools (Windows)
Student Loans
jkross91
When creating my budget and adding a Student Loan category for each of my student loans, should I list is as a tax line item? If so, how would I go about ensuring the program properly tracks just the interest and not the principal (as the interest is the only thing that can be a tax deduction)?
Thanks!
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Sherlock
You should be using a split transaction when entering loan payments that include and entries for interest and principal. The category you used for interest should be associated with the
Form 1040: Student loan interest
tax line-item.
In the budget, I suggest including the loan payment: select
Manage Budget Categories
and
Detailed Loan Payments
.
All comments
Sherlock
You should be using a split transaction when entering loan payments that include and entries for interest and principal. The category you used for interest should be associated with the
Form 1040: Student loan interest
tax line-item.
In the budget, I suggest including the loan payment: select
Manage Budget Categories
and
Detailed Loan Payments
.
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