PLEASE HELP!! Forgot to add 1098-E Form

Forum|Forum|1 year ago
February 12, 2025
2 replies
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So I had one 1098-E Form that I did file that was 1766.42. There were some changes wirth private loan servicers and i forgot to add the interest paid from the Department of Education (Federal) which was $343. I log into my account and it says the form for changes will be available on Feb 15th. Confused if I should add that 1098-E info on that form or wait until I get my refund back. Some of said wait until I get refund back, while website saying you can make changes on Feb 15th.

To give you an idea of my situation, I downloaded the TT app and start to finish doing my taxes took less than 15 minutes. Simple return. Someone said if I dont add that 1098-E form, I wont get in trouble but its money I am missing out on. Would I get that entire $343 added to my return when I add it later? When would be a good time to add that info? Please help.

xmasbaby0

Employee

It is too soon to amend a 2024 tax return. You have to wait until it has been fully processed by the IRS. Sometimes the IRS catches and corrects mistakes you made. And the Form 1040X you will need is not available until mid-February. Amending too soon can cause confusion and long delays.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

SusanY1

Wait until you get your initial refund, and then you can amend your tax return in TurboTax. You will not get the entire $343 back, but you may get some additional refund depending on all of the information filed with your tax return.

We don't have enough information to guess how much your additional refund will be, but it will likely be just a small percentage of the unreported student loan interest. More like closer to $35 or so. However, it doesn't cost you anything to amend your return so you may as well, after you receive that initial refund.

There is no need to worry that you will get into any trouble here, though, so cross that off of your list and just make a note on your calendar to check back in a few weeks, after you've likely received your refund and the amendment process is up and running in TurboTax.

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djxgam1ngAuthor

So can I amend when this form becomes available or should I wait until I get refund back? I just did my taxes today. Thanks

BrittanyS

You will wait until your return is processed and you receive your refund prior to amending your return. To amend your return follow these steps in TurboTax:

You must first wait until the initial return is completely processed.
You will have to use the same TurboTax account that you used for the original tax return.
Once you begin your amendment, you'll see your original return.
The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
Only make changes to the areas of your return that need to be corrected.
You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment

Select your product below and follow the instructions.

Amend TurboTax Online

Amend TurboTax CD/Download

@djxgam1ng

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