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Instructions for IRS Form 1098-E, 1098-T
for the current year.
Instructions for IRS Form 1098-E, 1098-T Student Loan Interest Statement and Tuition Statement
This document contains official instructions for IRS Form 1098-E , and IRS Form 1098-T . Both forms are released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 1098-E is available for download through this link. The latest available IRS Form 1098-T can be downloaded through this link.
FAQ
Q: What is IRS Form 1098-E?A: IRS Form 1098-E is a form used to report student loan interest payments.
Q: What is IRS Form 1098-T?A: IRS Form 1098-T is a form used to report tuition payments and other educational expenses.
Q: Who should receive a Form 1098-E?A: If you paid more than $600 in student loan interest during the tax year, your lender should send you Form 1098-E.
Q: Who should receive a Form 1098-T?A: If you paid tuition expenses or were eligible for educational tax credits during the tax year, your educational institution should send you Form 1098-T.
Q: What information is included on Form 1098-E?A: Form 1098-E will include the amount of student loan interest you paid during the tax year.
Q: What information is included on Form 1098-T?A: Form 1098-T will include the amount of tuition and other educational expenses you paid, as well as any scholarships or grants you received.
Q: Why is Form 1098-E important?A: Form 1098-E is important because you can deduct the student loan interest you paid from your taxable income, potentially lowering your tax liability.
Q: Why is Form 1098-T important?A: Form 1098-T is important because it provides information that can help you claim educational tax credits, such as the American Opportunity Credit or the Lifetime Learning Credit.
Q: When is Form 1098-E due?A: Form 1098-E must be sent to recipients by January 31st of the year following the tax year.
Q: When is Form 1098-T due?A: Form 1098-T must be sent to recipients by January 31st of the year following the tax year.
Instruction Details:
- This 4-page document is available for download in PDF;
- Not applicable for the current tax year. Choose a more recent version to file this year's taxes;
- Complete, printable, and free.
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