Missed adding Student Loan Interest Deduction on my 2023 tax return - worth amending?

Hey everyone! First time posting here - I'm still pretty new to this whole adulting thing. Just filed my 2024 taxes through TurboTax (same software I used last year), and I realized I completely forgot to include my student loan interest deduction when I filed my 2023 return. I paid about $381 in student loan interest last year, and after playing around with the amendment tool on TurboTax, it looks like adding that deduction would get me approximately $48 back from federal and around $21 from state taxes (I'm in Michigan). Last year I ended up paying $227 to federal and $102 to state without that deduction. So my question is - if I go through the trouble of filing a 1040-X to amend my return, will they actually send me a check for that $48 federal refund? And honestly, is it even worth the time and effort for that amount? I'm obviously still figuring all this tax stuff out, so any advice would be super appreciated! 😅

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19 comments

Oliver Alexander

•8M

The good news is that yes, if you file an amendment and are due additional refund money, the IRS will send you a check for that amount! The process isn't too complicated but does require some patience. For a student loan interest deduction of $381 resulting in a combined $69 refund ($48 federal + $21 state), here's what you should consider: You'll need to file a federal 1040-X form for the federal portion. Most states also require their own amendment form for the state portion - Michigan has its own amendment form you'll need to submit separately. The federal amendment must be filed within 3 years of the original filing deadline, so you have plenty of time. Keep in mind that amended returns take significantly longer to process - currently the IRS is taking 20+ weeks to process amendments, and then additional time for the check to arrive. So while $69 is certainly your money that you deserve back, you'll need to weigh that against the time spent preparing and filing the forms.

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Adrian Hughes

•8M

It doesn't just tell you what to do - it walks you through the entire process with step-by-step guidance. You can upload your existing return and new documents, and it highlights exactly what needs to change and why. It really helps if you're not confident with tax forms. As for comparing to regular tax software, the main difference is that taxr.ai specifically analyzes your existing return for errors or missed opportunities. Regular tax software amendment tools just help you make the changes you already know about, but don't necessarily identify other potential issues or deductions you might have missed.

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Eli Butler

•8M

If you're planning to amend, be prepared for a LONG wait. I filed a 1040-X last summer for a missed education credit and tried calling the IRS multiple times to check status. Impossible to get through - spent hours on hold before disconnecting. Finally used https://claimyr.com and their service got me connected to an IRS agent in about 15 minutes. You can see how it works here: https://youtu.be/_kiP6q8DX5c. Found out my amendment was actually approved but check was sent to wrong address!

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Eli Butler

•8M

It's not a phone tree bypass - they use a system that continuously redials the IRS using optimal timing algorithms until they secure a spot in the queue, then immediately connect you. Basically they do the waiting and redialing for you, and you only get the call when you're actually next in line to speak with an agent. No, it's definitely not a scam. They don't promise instant access - but they handle the frustrating part of constantly redialing and waiting on hold. In my case, I got connected in 15 minutes instead of spending hours trying and failing to get through. The time saved was absolutely worth it, especially since I found out my check was sent to the wrong address and I needed to update my information.

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Mateo Warren

•8M

For what it's worth, I think amending for $69 is absolutely worth it. That's a nice dinner out or a tank of gas! Plus, the process is straightforward: 1. Fill out the 1040-X (not difficult) 2. Include any supporting documents (like your 1098-E for student loan interest) 3. Mail it in (or e-file if your software supports it) The hardest part is honestly just the waiting. But that money is yours, the government has it, and you deserve it back. Don't leave it on the table!

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Mateo Warren

•8M

Generally, it's best to file both the federal and state amendments at the same time, but in separate envelopes if you're mailing them. There's no need to wait for the federal amendment to be processed before submitting the state amendment. Just make sure the information on both amendments is consistent, since some states require you to attach a copy of your federal amendment to your state amendment. Michigan specifically asks for a copy of your federal 1040-X along with their state amendment form, so having them both completed at the same time makes the process smoother.

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Isabella Santos

•5M

Just wanted to chime in as someone who went through this exact situation a couple years ago! I missed claiming about $400 in student loan interest and ended up amending to get back around $85. Here's my honest take: Yes, absolutely do it! Not just for the money (though $69 is definitely worth it), but also because it's great practice for understanding the tax system better. The amendment process taught me so much about how deductions actually work. One thing I'd add to the great advice already here - when you're filling out the 1040-X, the form asks you to explain the changes you're making. Be specific but concise. I wrote something like "Adding previously unreported student loan interest deduction of $381 per Form 1098-E" and attached a copy of my 1098-E form. Also, don't stress too much about making it perfect. The IRS will contact you if they need clarification on anything. Good luck with your first amendment - you've got this! 😊

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