Hi! I was with cornerstone loan until November 2020 of last year, when I was transferred to fedloan. I asked them how to get my 1098-E and they say to consult with a "tax specialist". Does anyone know how I can get this information? Thanks!
They are who should provide that information to you. Do you have the last statement you received from Cornerstone? It may say the amount of interest year to date. Then you would have the amount through November 2020.
Each lender is required to issue a 1098-E if you paid more than $600 in interest. So Fedloan may not be required this year. It's up to you to prove your interest amount, you may have printed statements or online account access you can use to obtain a statement or account summary.
Same thing happened to me. I definitely accumulated interest with Cornerstone in 2020 (before the interest freeze), but didn't collect any interest with FedLoan (my loan was transferred in Dec 2020) so the statement I'm able to download from FedLoan says $0.00. Cornerstone's website seems to no longer exist (it redirects to FedLoan now), so I can't access my statements or anything, as they were all within Cornerstone's portal. I tried to email Cornerstone's customer service email address and it bounced. No idea what to do from here!
I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s.
If you had December 2019 statement and your interest rate, you could get close enough.
If you have been paying for a while, you may have a visible pattern from which you could extrapolate.
You should be able to show how you came up with any deductions taken.
Did you end up finding a solution to this? In the same boat. Cornerstone seems to have shut down overnight. Had digital statements on their online portal.. didn't get a 1098-E from them. FedLoan doesn't have the info. What in the world are we supposed to do?
Yes, I did actually! I contacted my new loan servicer, Fedloan, and they sent me the amount from Cornerstone via mail. It wasn’t the official form, but the letter did state the amount, which allowed me to complete my taxes. It took about four weeks to get in the mail though.