Can I deduct interest if I have a private student loan that does not qualify for a form 1098-e?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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My student loan was for a for-profit flight school, and when I requested a 1098-e from my loan company they said my loan didn't qualify for one. But they did send me an annual interest statement. Can I use the interest listed there as a deduction?

TurboTax PLUS Online

Best answer by Leonard11_2

Yes, the fact that you did not receive a 1098-E does not prevent you from claiming the interest, as long as the loan is for a Qualified Student Loan.

The IRS defines a Qualified Student Loan as

A loan you took out solely to pay qualified education expenses

For you, your spouse, or a person who was your dependent when you took out the loan.
Paid or incurred within a reasonable period of time before or after you took out the loan.
For education provided during an academic period for an eligible student.

The link below provided information Tax benefits for Education that you may find useful.

https://www.irs.gov/pub/irs-pdf/p970.pdf

Leonard11_2Answer

Level 10

Yes, the fact that you did not receive a 1098-E does not prevent you from claiming the interest, as long as the loan is for a Qualified Student Loan.

The IRS defines a Qualified Student Loan as

A loan you took out solely to pay qualified education expenses

For you, your spouse, or a person who was your dependent when you took out the loan.
Paid or incurred within a reasonable period of time before or after you took out the loan.
For education provided during an academic period for an eligible student.

The link below provided information Tax benefits for Education that you may find useful.

https://www.irs.gov/pub/irs-pdf/p970.pdf