Hi, I'm Mark. For tax purposes, parents can take the student loan interest deduction. To qualify, the parents must be personally liable for the loan, and this includes co-signing. Additionally, they must claim the child as a dependent on their tax return. However, if the child is solely legally responsible for the student loan and can be claimed as a dependent by the parents, neither the child nor the parent qualifies for the deduction on their taxes. For more detailed information, please visit e-tax dot-com.
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1098 E 2024 Form: What You Should Know
What do you need to do? | Student Loan Interest & Tax Center If you are using the free app, you may receive a notification that you are eligible for a waiver from Form 1098-E. You should use this app for the following purposes after you have used it to calculate 1098-E: To apply for the 1098-E for you and anyone else in your household. Important Note: Student loan and income taxes must be paid separately to avoid double-taxation. What is the current year's 1098-E? | Federal Student Aid The current year's 1098-E can be found in your Student Aid Report or in your FSA account. What do I do if I already filed my 1098-E in 2018? | Student Loan Interest & Tax Center If you already filed your 1098-E in 2018, you can file for a new 1098-E or continue using the free app. How do I get a new 1098-E? [2018 FAFSA] If you have an FAFSA, you can find a list of your current income and debt amounts in the “Family Information Worksheet.” If you don't have an FAFSA, please see FAFSA. Student Loans & Interest. If your FAFSA doesn't have your 1098-E, the IRS will use that information to help you calculate your tax return for the year. Once you've selected the right debt category, you will receive an e-mail from us with instructions on how to fill out the form. If you have questions about the 1098-E tax form, see the FAFSA FAQ and if you don't need help, don't fill out the form. If you need additional help, you can always ask us by email at or by phone at. How do I get my 1099-Y? You don't need one for 2017. We recommend that you report income, loan balances and pay off loans so that you can receive your tax return next year when the 1099-Y form is due. You should report any taxable income and pay any taxes due on that income using Schedule A (Form 1040 or 1040A) and Schedule C (Form 1040NR).
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