How to E-file Form 1098-E for 2023 with TaxBandits?

Choose Form 1098-E

Select Form 1098-E, choose the appropriate tax year, and proceed. With TaxBandits, you can file your Form 1098 for current and previous tax years.

 Enter the Form 1098-E Information

Enter the required information on Form 1098-E either manually or bulk upload through custom CSV/Excel templates.

Review Form 1098-E

Review the information entered on Form 1098-E and make necessary changes if needed.

Transmit it to the IRS

After reviewing the form, transmit the completed Form 1098-E to the IRS and State.

Distribute Recipient Copies

You can opt to distribute your recipient copies either through postal mailing or secure online portal.

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What information is Required to File Form 1098-E?

  • 1. The Borrower's Name, Address, and TIN.
  • 2. The Lender’s Name, Address, and TIN.
  • 3. The account number if applicable.
  • 4. The Loan Interest that the lender received during the tax year.
  • 5. Indicate if this amount includes origination fees/interest.

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IRS Form 1098-E

Benefits of Filing Form 1098-E with TaxBandits

Internal Audit Check

Internal Audit Check

TaxBandits audits your forms for accuracy using the IRS Business Rules and IRS Schema Validations

TIN Matching

TIN Matching

TaxBandits helps reduce the chance of TIN errors by validating your employee's TIN against the SSA database.

Deliver Recipient Copies

Deliver Recipient Copies

Choose to distribute your recipient copies using our postal mail and online access options.

USPS Address Validation

USPS Address Validation

All recipient addresses are checked for accuracy using USPS Address Validations.

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Frequently Asked Questions on Form 1098-E

What is IRS Form 1098-E?

Form 1098-E is the Student Loan Interest Statement. This IRS tax form is used to report the interest of $600 or more on student loan payments. Financial institutions are required to file this form with the IRS and distribute copies to their borrowers. To be reported, the loan must be subsidized, financed, or guaranteed as a student loan from a government agency. Otherwise, it must be a loan that is used only towards higher education expenses.

When is the due date to file Form 1098-E for the 2023 tax year?

The deadline to file Form 1098-E by paper with the IRS is February 28, 2024. The deadline to distribute copies as needed to borrowers is January 31, 2024. The Form 1098-E electronic filing deadline is on March 31, 2024.

How can I get my 1098-E form?

If you don’t receive a copy of Form 1098-E, you should contact your loan provider. There may be an option to download this form from their website or your online account.

What is the difference between 1098-E and 1098-T?

The key difference between Form 1098-T and 1098-E is that 1098-T is a record of the tuition payments in a given tax year. Form 1098-E is a record of the interest paid on the student loan once the taxpayer begins repaying a student loan.

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