Skip to main content
February 17, 2021
Question

What if I paid off this loan earlier in 2020 and can't view it because it is no longer there? I haven't gotten my 1098-E either so I'm assuming I paid less than $600

  • February 17, 2021
  • 1 reply
  • 0 views
I have another student loan that I could put in but interest hasn't accrued in 2020.

1 reply

February 17, 2021

If you made federal student loan payments in 2020, you may be eligible to deduct a portion of the interest you paid on your 2020 federal tax return.

If you paid interest but didn't receive form 1098-E, enter it as if you received the 1098-E form. All you need to enter is the name of the lender and the amount of interest paid. 

  • Log in to your account.
  • Select Federal From the left menu.
  • Go to Deductions and Credits.
  • Scroll down to Education.
  • Select Start next to Student Interest Loan paid (1098-E

You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status. Student Loan Interest Deduction

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"