Instructions for IRS Form 1098-E, 1098-T

IRS Form 1098-E Student Loan Interest 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.

FAQ

Q: What is IRS Form 1098-E?
A: IRS Form 1098-E is used to report student loan interest payments made during the tax year.

Q: What is IRS Form 1098-T?
A: IRS Form 1098-T is used to report information about qualified tuition and related expenses.

Q: Who should file IRS Form 1098-E?
A: Lenders or financial institutions that received student loan interest payments of $600 or more during the tax year should file IRS Form 1098-E.

Q: Who should file IRS Form 1098-T?
A: Eligible educational institutions that received payments for qualified tuition and related expenses should file IRS Form 1098-T.

Q: What information is required to complete IRS Form 1098-E?
A: The required information includes the student's name, address, social security number, and the amount of student loan interest paid during the tax year.

Q: What information is required to complete IRS Form 1098-T?
A: The required information includes the student's name, address, social security number, and the amount of qualified tuition and related expenses paid or billed during the tax year.

Q: When is the deadline to file IRS Form 1098-E?
A: The deadline to file IRS Form 1098-E is January 31st of the year following the tax year.

Q: When is the deadline to file IRS Form 1098-T?
A: The deadline to file IRS Form 1098-T is January 31st of the year following the tax year.

Q: Are there any penalties for late filing of IRS Form 1098-E or 1098-T?
A: Yes, there are penalties for late filing. It is important to file these forms on time to avoid penalties.