Solved: Re: Student loan interest
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Cfoust652
Level 2

Student loan interest

 

I have two student loans with the same lender US Department of Education that's through Great Lakes. (they're both in my name) I've got two questions. Do I need to list the student interest on these two loan separately or can I combine the interest from the two loans since they're both in my name and the same lender? Also when I list the name of the lender should I list the US Department of Education and Great Lakes or is US Department of Education enough information? Thanks 

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ColeenD3
Employee Tax Expert

Student loan interest

You should report them separately. It will appear as one amount on your tax form, but when you electronically file, the IRS gets the back-up information. In addition, they will look more at the EIN for identification, rather than the name.

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ColeenD3
Employee Tax Expert

Student loan interest

You are correct. It does not ask for it this year.

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4 Replies
Cfoust652
Level 2

Student loan interest

I did receive two separate 1098-E forms for the two loans. So I would assume I'd report them separate even though they're both in my name and through the same lender 

ColeenD3
Employee Tax Expert

Student loan interest

You should report them separately. It will appear as one amount on your tax form, but when you electronically file, the IRS gets the back-up information. In addition, they will look more at the EIN for identification, rather than the name.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Cfoust652
Level 2

Student loan interest

It didn't have a box for me to enter a EIN number. It only had a box for the lender name and the second box was the amount of interest. Should there be a box for a EIN number for the lender? Thanks for your answer

ColeenD3
Employee Tax Expert

Student loan interest

You are correct. It does not ask for it this year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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