Previously deferred interest is the interest that would have been forgiven if you had paid off the loan by a certain date. Once that promotional period is over then the interest just gets added back into your bill. Previously deferred interest is just interest once you pay it and is reported on your 1098 the exact same way.
To calculate it you need to know how long the promotional period was. Then you take the annual percentage rate for the interest and divide it by 365 (or 366 if it was a leap year). Then take that daily rate and calculate out what the interest was for the promotional period. If it was six months then figure on the number of days in that six months. And so on.
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