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My employer has a student reimbrsmnt prgrm. But if you leave, it then becomes a loan. The "loan" was taken out of my check. How do I claim this without a 1098E?

 
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4 Replies

My employer has a student reimbrsmnt prgrm. But if you leave, it then becomes a loan. The "loan" was taken out of my check. How do I claim this without a 1098E?

Are you repaying that loan with interest?  With a “normal” student loan you would only be able to deduct interest paid. There is no deduction for paying the principal. 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

My employer has a student reimbrsmnt prgrm. But if you leave, it then becomes a loan. The "loan" was taken out of my check. How do I claim this without a 1098E?

Since you are now paying for the education you can use the education credit ... if this happened in a prior tax year you can amend that year to add the credit. 

Hal_Al
Level 15

My employer has a student reimbrsmnt prgrm. But if you leave, it then becomes a loan. The "loan" was taken out of my check. How do I claim this without a 1098E?

You can not claim a deduction for any interest you pay on the loan.  This is a personal loan and not a student loan for tax purposes.

Carl
Level 15

My employer has a student reimbrsmnt prgrm. But if you leave, it then becomes a loan. The "loan" was taken out of my check. How do I claim this without a 1098E?

That just means if you paid "qualified" education expenses, you paid them out of pocket, is all. As for the "loan" you have nothing to claim since it was not a "qualified" student loan. What matters here is in what tax year you paid for any qualified education expenses. If in 2019, then no problem. While there is no tuition and fees deduction any more, your out of pocket "qualified" education expenses may qualify you for some education credits, such as the American Opportunity Credit maybe.

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