Form 1098-E is for student loan interest. You may not have any, or you may not have gotten the form. If you do have it, see below for how you enter it. Student loan interest is interest you paid during the year on a
qualified student loan. It includes both required and voluntarily pre-paid
interest payments. You may deduct the lesser of $2,500 or the amount of
interest you actually paid during the year. The deduction is gradually reduced
and eventually eliminated by phaseout when your modified adjusted gross income
(MAGI) amount reaches the annual limit for your filing status.
Follow
these directions to enter your student loan interest even if you didn't get a
1098-E from your lender:
- Open (continue) your return
in TurboTax if you don't already have it open.
- In the search box, search for
"1098-E" (upper- or lower-case, with or without the dash) and
then select the "Jump to" link in the search results.
- Answer Yes to the question Did you
make any student loan payments?
- If you land on the Here's what
you paid screen,
you can either edit an existing payment or add a new one.
- Follow the onscreen
instructions.
