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Level 3
February 14, 2024
Question

Can I file the Maine Student Loan Repayment tax credit worksheet with the taxpayer info, even though the loan belongs to his spouse?

  • February 14, 2024
  • 1 reply
  • 6 views

I have a client that lives in Maine with his spouse, every year we file their tax return and prepare a form called Student Loan Repayment tax credit worksheet on the state side (Maine), in past years it has given me the option to select the spouse because the educational loan belongs to her, however, in this year 2023, that option is not available and it is automatically putting the taxpayer as the owner of the loan. What can I do about that? 

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    1 reply

    Just-Lisa-Now-
    Intuit Community Champion
    February 14, 2024

    The FinCen114 does the same thing, no option to switch to spouse.

    I just split the MFJ return into 2 MFS returns and use the spouses MFS return for the 114...would something like that work for this form?

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    Level 3
    February 15, 2024

    I don't think that would work for this client because they have a dependent and if we do MFS, they lose their dependent credit.

    Just-Lisa-Now-
    Intuit Community Champion
    February 15, 2024

    OK, i wasnt sure what that student loan repayment form entailed, I was just trying to get you a return that flopped the names/SSNs from one to the other.

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪