turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

What form is used when filing with turbo tax? 1098e?

 
5 Replies

What form is used when filing with turbo tax? 1098e?

A 1098E is the form you get for the interest paid on a student loan.  You can use any version of TurboTax for that.

STUDENT LOAN INTEREST

Only the person whose name is on the student loan and who is legally obligated to pay the loan can deduct the student loan interest.  If you did not sign or co-sign for the loan you cannot deduct the interest.

You cannot deduct student loan interest if you are being claimed as someone else’s dependent, or if you are filing as married filing separately.

The student loan interest deduction can reduce your taxable income by up to $2500

There is a phaseout for the Student loan interest deduction, which means the amount you can deduct gets reduced when your modified adjusted gross income hits certain income levels and is even eliminated at certain income levels -  

• If your filing status is single, head of household, or qualifying widow(er), then the phaseout begins at $65,000 until $80,000, after which the deduction is eliminated entirely.

• If your filing status is married filing joint, then the phaseout beings at  $130,000 until $160,000, after which the deduction is eliminated entirely.

https://www.irs.gov/help/ita/can-i-claim-a-deduction-for-student-loan-interest


**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.**

What form is used when filing with turbo tax? 1098e?

The online Free Edition cannot be used to file form 1098E. All other versions can be used.

What form is used when filing with turbo tax? 1098e?

@Texas Roger Are you sure about that?  Previously a 1098E could be entered on a 1040A line 18.  Is that a change in what TT is doing for Free Edition?
**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.**

What form is used when filing with turbo tax? 1098e?

Yes it's a change. The Free Edition only handles what's on the postcard 1040. None of the adjustments to income which includes student loan interest are on the postcard 1040. They require Schedule 1. You can see what's included in the Free Edition by going to the web site and looking at the forms available in each version.

What form is used when filing with turbo tax? 1098e?

@Texas Roger Thanks!  Will do!
**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.**
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies