, Answering FAQ'sTurboTax Employee
What is Form 1098-E?
You'll receive Form 1098-E, Student Loan Interest Statement from the lender of your student loan. The purpose of Form 1098-E is to report interest that you paid for the year on your student loan. This interest is deductible. To maintain an accurate record, your lender will also send a copy of this form to the IRS.
It is possible that you may not receive a 1098-E from your lender if the amount of interest you paid was less than $600. You can always contact your lender if you are unsure of how much interest you paid. Remember, if you paid interest on a student loan during the year, you can deduct it.
You'll enter the information that's on your 1098-E into TurboTax as it asks questions about your education and loan. 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 income tax return. TurboTax will help you sort out how to best take advantage of available education tax benefits.
Note: You don't need to attach Form 1098-E to your income tax return. The IRS already has a copy that was sent by your lender.
Entering Form 1098-E into TurboTax
Don't worry! When you use TurboTax, we'll ask you the right questions to make sure your student loan interest is entered correctly, fill out all the right forms, and we'll perform all the calculations for you.
If you've already gone through the step-by-step interview and want to jump directly to the entry screen for this topic, follow these directions.
- Select Federal Taxes (Personal in the Home & Business edition).
In Online TurboTax, click the bars at the upper left corner to show Federal Taxes on the selection list; enlarge the screen if needed to show the left side selection list.
- Select Deductions and Credits, and in the next screen, click on Explore on My Own
- Scroll down the Your Deductions and Credits screen until you see the Education group.
- Click on the Start/Update button next to the Student Loan Interest Paid category.
- Follow the Prompts.
What if I received two or more 1098-Es?
After you have entered in the information from your first 1098-E, you will have the option to enter in any additional 1098-Es you might have received. Simply click on the Add Another Student Loan Interest Payment and we'll help you add them.
If you have yet to receive your 1098-E, see I haven't received a form I need to file.
If you need to correct or change any information you have entered from your 1098-E, the steps you take depends on if you have already filed your tax return.
- If you have yet to file your return, simply follow the navigation instructions above, and correct or change your information.
- If you have already filed your return and it was accepted by the IRS, you will need to amend your return. Refer to How to Amend a Return You Already Filed.
For questions about printing, refer to print a copy of your return.
If you have questions about the availability of form 1098-E, see Federal forms availability.
Additional resources you might try:
- Enter data from Forms 1098 and 1099 in TurboTax
- Importing your W-2, 1099, and 1098 forms
- Have a specific tax law question?