I am struggling to find where I can add my student loan interest payments as a deduction. I got the file from fedloans but I don't know how to add it.

Thanks for posting in the Community, @timidclover.

When adding transactions in QuickBooks Self-Employed (QBSE), the categories available in the system are in line with the Schedule C categories that the IRS has for self-employed individuals.

Right now, we currently don't have a specific category for Student Loan. For the moment, what you can do though is choose the closest category available for your transactions. 

To add a deduction, here's what you'll need to do:

1. On your QBSE account, click Transactions in the left menu. 
2. Pick Add transaction at the upper right hand. 
3. Enter the necessary information. 
4. Select a category. 
5. Hit Save once done.

For your visual guidance, see screenshot below:

You can check this article for guidance on what category to use: Categories in QuickBooks Self-Employed.

Additionally, I want to ensure that you get the most out of QuickBooks for your business. You can check some articles that are designed to help you get acclimated with the software. They can be accessed at the following link: QuickBooks Tutorials.

If you have any questions let me know, I want to ensure that this is taken care of. Have a great day!

Hmm, okay, but does that deduct it from what I will owe? And are my student loan payments supposed to be listed under business or personal?

I can share additional information, @timidclover.

You can deduct the costs of “qualifying work-related education,” including things such as tuition, books, supplies, lab fees, transportation to and from classes, loan interest deductions and related expenses. The expenses are deductible only if the education “maintains or improves skills needed in your present work. Here's a great resource on this topic from the IRS.

In QuickBooks, you can categorize this type of transaction under Schedule C: Other business expenses. Also, I'd suggest consulting with an accountant so you'll be assisted properly in claiming your self-employed related deductions.

For more detailed information about the different expense categories in QuickBooks, you can read through this article: QuickBooks Self-Employed Schedule C Categories breakdown.

You can check these articles for additional reference in preparing and filing your taxes: 

• QuickBooks Self-Employed - Annual taxes guide
• Why don't certain deductions export to TurboTax?

Feel free to click the Reply button if you have other questions about recording your transactions in QuickBooks. I'm always here to help.