How to enter 1099-INT and 1098 when filing MFS

Forum|Forum|2 years ago
March 20, 2024
1 reply
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My husband and I file MFS because of my student loans. Our mortgage and savings accounts are in our names. Do I just enter the 1099-INT and 1098 on my return? We do the standard deduction.

xmasbaby0

Level 15

If you are filing MFS you do not get an education credit/deduction for student loan interest paid---if that is the 1098 you are referring to. Is it a 1098E for student loan interest? If it is a 1098T you will not get education credit for that either since you are filing MFS.

And....you say you are using standard deduction, so entering a 1098 for mortgage interest will have no effect.

The 1099INT is taxable income so either one of you can enter it or split it 50-50 between you if you want to.

**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.**

kelnyAuthor

Level 2

Thank you!

We file separate so my student loan payments on based on my income only.

I figured the 1098- mortgage interest didn't matter but wasn't sure how to handle the 1099INT.

xmasbaby0

Level 15

One thing you need to be mindful of----if you enter the 1098 with mortgage interest and property tax paid, if somehow that puts you over the edge into itemized deductions---then your spouse will be required to itemize deductions too.