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Interest on student loan

I have a student loan that I paid interest on in 2019. The loan was transferred to a different company during the year. I received two 1098-E's. The one from the first company shows the interest that I paid them. The one from the second company shows the interest that I paid them, plus what I paid the first company. I now have 1098-E's showing that I paid over $2800 in interest that is being reported to the IRS, when in fact I only paid $1500 in interest. I called the second company and all the did was argue with me saying that I paid the interest to them. I don't know what to do. Please help.

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1 Reply
AnnetteB6
Employee Tax Expert

Interest on student loan

Do not worry about getting a corrected Form 1098-E from the second lender.  The 1098-E entry process is very simple and you are only required to enter the lender name and amount of interest.  

 

When you enter the second 1098-E information, adjust the amount reported to include the difference between the two lenders.  That way you are not reporting too much interest.

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