Form 1098-E Instructions & Tax Reporting Pointers
Student Loan Interest Statement
The 1098-E is used to report if you receive student loan interest of $600 or more from an individual during the year in the course of your trade or business. The $600 threshold applies to each borrower regardless of the number of student loans obtained by that borrower. However, you may file a separate Form 1098-E for each student loan of the borrower, or you may file one Form 1098-E for the interest from all student loans of the borrower.
Applicable businesses: Financial institution, a governmental unit (or any of its subsidiary agencies), an educational institution, or any other person.
When to file: 1098-E forms must be furnished to recipients by January 31, and e-filed with the IRS by March 31 each year.
NOTE: When the due date falls on a weekend or legal holiday, the form due date is moved to the next business day.
Any financial institution, governmental unit (or its subsidiary agencies), educational institution, or other person that receives $600 or more in student loan interest from an individual during the year in the course of a trade or business.
Furnish Form 1098-E to borrowers by January 31 and e-file with the IRS by March 31. If a due date falls on a weekend or legal holiday, it moves to the next business day.
Per borrower. The $600 threshold applies to each borrower regardless of how many student loans that borrower has.
Yes. You may file one Form 1098-E covering interest from all of a borrower's student loans, or a separate Form 1098-E for each loan.
Need to make a correction? No problem! Here's how you can get started with 1099 corrections.
Review important W-2 requirements for employee filing.
Who: Financial institution, a governmental unit (or any of its subsidiary agencies), an educational institution, or any other person
When: 1098-E forms must be furnished to recipients by January 31, and e-filed with the IRS by March 31 each year
Where: To the IRS
Why: To report student loan interest of $600 or more received in the course of your trade or business
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