Why you received it
Student-loan interest reported by a lender or loan servicer
Income-document guide
Form 1098-E: Student Loan Interest Statement
Use Form 1098-E to support the above-the-line student-loan interest deduction when the borrower, loan and income requirements are met.
Where it usually flows
- • Schedule 1 (Form 1040), student loan interest deduction
- • Form 1040 adjusted gross income
Fields and records to check
- Interest reported by each servicer
- Qualified education loan status
- Borrower dependency rules
- MAGI phaseout and filing status
Form 1098-E FAQs
Is all reported student-loan interest deductible?
Not necessarily. The deduction is limited and can phase out by MAGI. Married filing separately taxpayers generally cannot claim it.
Do I have to itemize?
No. Student-loan interest is an adjustment to income rather than a Schedule A itemized deduction.
Sources
Related Calculators
Student Loan Interest Deduction
$2,500 cap §221 above-the-line, MAGI phase-out $85k-$100k single / $175k-$205k joint
Student Loan Repayment
SAVE/PAYE/IBR plans, forgiveness timelines, payment calcs
AGI Calculator
Adjusted gross income line by line: total income minus the Schedule 1 above-the-line deductions