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Even if you didnt receive a 1098-E from your servicer, you can download your 1098-E from your loan servicers website. If you are unsure who your loan servicer is, log in to StudentAid.gov or call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243; TTY 1-800-730-8913).
If you didnt pay any servicer at least $600 interest in a calendar year, you wont receive any 1098-E forms.
The IRS only requires federal loan servicers to report payments on IRS Form 1098-E if the interest received from the borrower in the tax year was $600 or more, although some federal loan servicers still send 1098-Es to borrowers who paid less than that.
No, you will not get in trouble with the IRS if you forgot to claim your student loan interest on form 1098-E. But you will lose the opportunity of an income deduction of up to $2,500.
If youre married filing separately, or for 2022 if your modified adjusted gross income, or MAGI, is $85,000 or more if filing single or $175,000 if married filing jointly, you cant deduct any student loan interest. Your MAGI is essentially your adjusted gross income (AGI) with certain deductions added back in.
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When filing taxes, dont report your student loans as income. Student loans arent taxable because youll eventually repay them. Free money used for school is treated differently. You dont pay taxes on scholarship or fellowship money used toward tuition, fees and equipment or books required for coursework.
If you paid interest on a qualified student loan, you may be able to deduct some or even all of that interest on your federal income tax return. Student loan companies use IRS Form 1098-E to report how much you paid in interest. Borrowers get a copy of this form, and so does the IRS.
You use the 1098-E to figure your student loan interest deduction. You can deduct up to $2,500 worth of student loan interest from your taxable income as long as you meet certain conditions: The interest was your legal obligation to pay, not someone elses.

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