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Taxes-Student Loan Interest.

post #1 of 5
Thread Starter 
Once again I am confused & refuse to pay someone to do my taxes.
I didn't receive a 1098-E yet for my student loan interest. I don't think I will be getting one but want to claim the amount anyway. Has anyone done this before? Do I just put the $ amount in or do I have to do a stupid worksheet? I never understand those things.
post #2 of 5
I don't know the specifics, but you may not get one if you paid under $600 in interest, BUT, that doesn't mean you can't claim the interest on your taxes.

Depending on your income level, you may not be able to claim the interest at all.

I just did a quick google for the answer, but check this out: http://www.irs.gov/taxtopics/tc456.html.

If you are not comfortable with doing your taxes with pen and paper but don't want to pay outrageous amounts for HR Block type places, I'd recommend buying TaxCut or TurboTax. -my 2 cents
post #3 of 5
Call the bank the loan is with you need that sheet to validate any deduction of intrest
post #4 of 5
I buy Turbo Tax deluxe- it makes it easy to itemize things like your student loan interest and even your car registration fees. Paying the 45 bucks for the program is worth it to me and I don't have to worry about what I'm doing and whether it's legal.

The bank has until Jan. 31st to send you the tax statement. If you don't get it by then you need to report them because they are in violation of the law. We got out student loan interest statements last week.
post #5 of 5
Is it a Stafford Loan - subsidized? I think its the one that you dont pay ANYTHING until after college...and no interest until then? If so, that may be way.

I only got a statement for my unsubsidized. It threw me at first, but it's OK. I'm using the H&R Block tax software this year. I used it last year and learned so much going through it (about what I could do with my money or how to save for next year)
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