Fillable Form 1098-E

What is Form 1098-E?

Form 1098-E, Student Loan Interest Statement, is used by those who have received a student loan interest of $600 or more from an individual during the course of his or her trade or business. This form is used to report the amount of interest an individual has paid for his or her student loans in a calendar year.

The threshold of $600 will apply to each borrower regardless of the number of student loans he or she has obtained, but the borrower may decide to file a separate Student Loan Interest Statement Form for each student loan he or she currently has.

An individual will be required to fill out the Student Loan Interest Statement Form if he or she is part of a financial institution, governmental unit, educational institution, or have received a student loan interest of $600 from a lender. In cases wherein more than one person has a connection with the student loan interest, only the first person who has received the interest payment is required to file the Student Loan Interest Statement Form.

For a student loan to be qualified, it must have one of the characteristics listed below:

• The student loan is subsidized, guaranteed, financed, or otherwise treated as a student loan under a program of the federal, state, local government, or of a postsecondary educational institution
• The student loan is certified by the borrower as a student loan incurred solely to pay qualified expenses relating to higher education. An individual may use Form W-9S, Request for Student's or Borrower's Taxpayer Identification Number and Certification, to obtain the certification for the student loan.

The applicant may be able to deduct the student loan interest he or she paid in the previous year in his or her income tax return. However, the borrower may not be able to deduct the full amount of interest reported on this Student Loan Interest Statement.

An applicant will not be required to report interests on loans made under a qualified employer plan or those made under a contract purchased under a qualified employer plan. Furthermore, applicants are required to provide a statement or an acceptable substitute which could be on paper or done electronically to the borrower.

In entering one’s full legal name and street address, the applicant must use the same name address he or she entered on Form 1096, Annual Summary and Transmittal of U.S. Information Returns.

A complete Student Loan Interest Statement must have the following information:

• Recipient’s/lender’s full legal name
• Recipient’s/lender’s street address
  • Apartment number
  • City or town
  • State or province
  • Country
  • ZIP code or foreign postal code
• Recipient’s/lender’s telephone number
• Recipient’s/lender’s tax identification number (TIN)
• Borrower’s tax identification number (TIN)
• Borrower’s full legal name
• Borrower’s street address
  • Apartment number
  • City or town
  • State or province
  • Country
  • ZIP code or foreign postal code
• Borrower’s account number
• Student loan interest received by lender or recipient
• Loan origination fees and/or capitalized interest

How to fill out Form 1098-E?

Form 1098-E has several copies. The following instructions below are applicable to all the copies:

• Copy A for Internal Revenue Service Center
  • The applicant must submit this copy of the Student Loan Interest Statement to the Internal Revenue Service (IRS) Center along with Form 1096, Annual Summary and Transmittal of U.S. Information Returns. Copy A of the Student Loan Interest Statement is provided for informational purposes only.
• Copy B for Borrower
  • The applicant must keep this copy of the Student Loan Interest Statement for his or her own records.
• Copy C for Recipient/Lender
  • The applicant must submit this copy of the Student Loan Interest Statement to the recipient.

To fill out Form 1098-E, one must provide the following information:

Recipient’s/Lender’s Name

Have the recipient or lender enter his or her full legal name.

Recipient’s/Lender’s Street Address

Have the recipient or lender enter his or her street address including his or her apartment number.

Recipient’s/Lender’s City or Town

Have the recipient or lender enter his or her city or town.

Recipient’s/Lender’s State or Province

Have the recipient or lender enter his or her state or province.

Recipient’s/Lender’s Country

Have the recipient or lender enter his or her country.

Recipient’s/Lender’s ZIP Code or Foreign Postal Code

Have the recipient or lender enter his or her ZIP code or Foreign Postal Code.

Recipient’s/Lender’s Telephone Number

Have the recipient or lender enter his or her telephone number.

Recipient’s/Lender’s Tax Identification Number

Have the recipient or lender enter his or her tax identification number (TIN).

Borrower’s Tax Identification Number

Have the borrower enter his or her tax identification number (TIN).

Borrower’s Name

Have the borrower enter his or her full legal name.

Borrower’s Street Address

Have the borrower enter his or her street address including his or her apartment number.

Borrower’s City or Town

Have the borrower enter his or her city or town.

Borrower’s State or Province

Have the borrower enter his or her state or province.

Borrower’s Country

Have the borrower enter his or her country.

Borrower’s ZIP Code or Foreign Postal Code

Have the borrower enter his or her ZIP code or foreign postal code.

Borrower’s Account Number

Have the borrower enter the account number the lender has assigned him or her.

Item 1. Student loan interest received by lender

Have the recipient or lender enter the total amount of the student loan interest he or she has received during the calendar year in U.S. dollars. If there have been loans made on or after September 1, 2004, the applicant is required to include the amount in this section of the form.

Item 2. Loan Origination Fees and/or Capitalized Interest

Mark the provided box if the student loan interest in Item 1 does not include loan origination fees and/or capital capitalized interest and that the loan was made before September 1, 2004; otherwise, leave the box blank.

If you marked the box, this indicates that the loan origination fees and/or capitalized interest are not included in Item 1 for the loans made before September 1, 2004.