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Learn More About Form 1098-E


What is Form 1098-E?

Form 1098-E is used to report student loan interest received in the course of your trade or business.

Why do I file Form 1098-E?

The IRS requires that all income and deductible expenses are reported by businesses and individuals or penalties could apply.

Who needs to file Form 1098-E?

File Form 1098-E if you are a financial institution, governmental unit (or any of its subsidiary agencies), educational institution, or any other person who receives student loan interest of $600 or more from an individual during the year in the course of your trade or business.

If more than one person has a connection with the loan, only the first person to receive the interest payment must file Form 1098-E. For example, a loan service or collection agent receiving payments on behalf of the lender must file. See the official IRS instructions.

When do I file Form 1098-E?

1098-E forms are required to be mailed to the recipient by January 3, 2017 and E-filed with the IRS by March 31, 2017.

Form 1098-E Reporting Information

What to report Amount to report
Student loan interest received in the course of your trade or business. $600 or more