TaxBandits Knowledge Base

What is Form 1098-E?

Form 1098-E is utilized to record the interest payments made on eligible student loans within the specific tax year. This interest, which can be claimed as a deduction by the taxpayer, is documented in the form, providing a breakdown of the total interest paid during that year. If the interest payments reach or exceed $600, the lending institution is required to issue this form to the taxpayer. However, it's important to note that taxpayers might still receive this form even if their interest payments are less than $600.