Student Loan Deduction

[zmclell]

The "student loan interest received by lender" line item on my 1098-E form does not match the "student loan interest deduction" (line item 33) on my completed 1040 form.

The "student loan interest received by lender" is much higher.  Is my 1040 form correct?  If so, how was this amount calculated?

[Lisa995]

There's a limit of $2500 for deductible student loan interest....is $2500 what youre seeing on the tax return?

[zmclell]

No, 874 on the tax return compared to 2,527 on the 1098-E.

[Lisa995]

How much total income is shown on the return?  (Line 21 of the 1040  or Line 15 of the 1040A)

[zmclell · Accepted solution]

I used the "Student Loan Interest Deduction Worksheet" from IRS.gov and confirmed the 1040 was correct.