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keagleelk
New Member

My Student Loans were paid in full. Do I have to report that? I haven’t received a form from DOE.

 
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3 Replies
MayaD
Employee Tax Expert

My Student Loans were paid in full. Do I have to report that? I haven’t received a form from DOE.

No, you do not need to report that you paid off your student loans on your tax return. You may be eligible to deduct a portion of the interest you paid on your 2024 federal tax return. Student loan interest payments are reported both to the Internal Revenue Service (IRS) and to you on IRS Form 1098-E.

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My Student Loans were paid in full. Do I have to report that? I haven’t received a form from DOE.

No there is no place on an income tax return to report that you paid your student loan off.  The only thing that gets entered on a tax return for your student loan is interest you paid.   If you paid interest on the loan in 2024 you can enter that.

 

 

WHERE DO I ENTER STUDENT LOAN INTEREST

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/enter-student-loa...

 

**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.**
Hal_Al
Level 15

My Student Loans were paid in full. Do I have to report that? I haven’t received a form from DOE.

You say "my student loans were paid in full" rather than "I paid off my student loans". 

 

As others have said, paying off your student loans is not a tax reportable event.  If somebody else paid off your loans, it may be reportable, depending on the who and what. 

 

The American Rescue Plan Act includes a provision temporarily modifying the tax treatment of forgiven or discharged student loan debt. Specifically, the law excludes from gross income any qualifying student loans that are discharged between Dec. 31, 2020, and Jan. 1, 2026. During this period, forgiven student loan debt won’t be subject to federal taxation. However, the amount forgiven could be taxable in some states.”

 

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