, Answering FAQ'sTurboTax Employee
What is Form 1098-E?
Form 1098-E reports interest that you paid during the year on your student loan. This interest is deductible even if you don't itemize deductions.
The lender of your student loan should send you Form 1098-E, Student Loan Interest Statement. They also send a copy to the IRS.
It is possible that you may not receive a 1098-E from your lender if you paid was less than $600 of interest. You can always contact your lender if you are unsure of how much interest you paid.
As TurboTax asks about your education and loans, enter the information on your 1098-E. Be sure to enter the exact amount(s) that are listed on your Form 1098-E to receive the appropriate deduction for student loan interest on your tax return.
Entering Form 1098-E into TurboTax
Watch our video on how to enter your Form 1098-E, or in TurboTax, jump right to the entry area:.
- In the TurboTax search box, enter 1098-e and press Enter,
Then click the Jump to 1098-e link.
- Click Yes on the Did you make student loan payments in 2014? screen.
- Follow the Prompts.
After entering your first 1098-E, you will have the option to add additional 1098-Es by clicking the Add Another Student Loan Interest Payment.