Do I really need to file my 1098-E? I only paid $10 in interest.

[rjs]

Why do you not want to include your student loan interest in your tax return? Are you really asking whether you need to file a tax return at all? Is the 1098-E the only thing you have to file?

If you had no income at all, you do not have to file a tax return.

If you do file a tax return, there is no reason not to include the 1098-E. It can't hurt you, and it will probably save you a couple of dollars. If you are eligible for the Earned Income Credit (EIC), you MUST include your 1098-E in your tax return.

[tommystclair19]

No I know I need to file a tax return. I was simply saying for the 1098-E do I really need to add that to the tax return? Even if it’s only $10 I paid in interest? Through TurboTax I can finalize my tax return until the 18th because it’s saying the irs hasn’t finalized some papers.

[rjs · Accepted solution]

If you are eligible for the Earned Income Credit (EIC), you do have to include the 1098-E in your tax return.

If you are not eligible for the EIC, you do not have to include the 1098-E if you don't want to, but you should include it because it might save you some money. Including it will not do any harm.

[krf6288]

Unless TurboTax forces you to upgrade to the Deluxe edition because of it, then it'll cost you $39.99 for each federal and state.

[siathao2018]

Turbo Tax does forces you to upgrade to the Deluxe edition because of it, then it'll cost you $39.99 for each federal and state.

[jake1397]

I saved $5 by NOT adding my 1098-E and being forced to upgrade to Deluxe... now Turbo Tax gets nothing. Feels like that's a missed revenue opportunity on their part.

[cleanhouse4005-1]

Actually it will do you some harm, because to get a free return through Turbo Tax, you must NOT have a 1098-E form. So for 10 bucks, I would say leave it out.

[Dlm4]

@cleanhouse4005-1   What if you paid $170 in interest.  What do you recommend? This form is the only reason TurboTax is trying to make me upgrade and pay for Delux, and it makes no sense. Its a ‘deduction’ that isn't actually helping me recieve a greater return. Thanks!

[jpremmel]

I'm in a similar situation. My student loan interest is only $96.76 on my 1098-E. I really don't want to upgrade to turbotax deluxe if I don't need to.

[Hal_Al]

 TurboTax also has another free product called the Free File Edition (not to be confused with the regular Free Edition).  It has free Federal preparation and free State preparation. There is no efiling fee. It is not available after October 15

The Free file Edition can handle a 1099-MISC.

The Free file Edition is more fully-featured than the regular Free Edition.  The Free File Edition can prepare Schedule A, C, D, E, and F that the Free Edition cannot. 

For Free File Edition a user needs to meet only ONE of these qualifications:

•      AGI of $36,000 or less
•      or active duty military (including Reservists and National Guard) with a military-issued W-2 and a 2019 AGI of $69,000 or less
•      or eligible for the Earned Income Credit (EIC aka EITC).

The FREE FILE Edition is located at:
https://turbotax.intuit.com/taxfreedom

How to switch and start over in Free file Edition
https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-freedom-edition

[eliglancy]

@Hal_Al Thank you so much for sharing this. Not enough people are aware of this program and it was incredibly helpful! This saved me $80

[mdpotter6]

@Hal_Al It still is trying to get me to upgrade using that service. I'd just rather not file my 1098-E and lose out on the $30 I'd get back after taking the $100 upgrade. Also the money it says i'd get back i'm not seeing in my return so I don't want to be out the money if I am not actually getting that money back.

[Hal_Al]

If you're not eligible for the Free File Edition, try deleting your 1098-E.