• Page :
  • 1
  • Text Only
Voting History
rated:
I have several private student loans and this is the first year I'm doing my own taxes. Citibank is one of my lenders. Because the loan is private they require you submit a W-9S form by 12/15/2010 so they can fill out a 1098E form for me. Since I don't think about my taxes until at least January, obviously I missed the deadline. So I call a CSR and they tell me they can send a letter indicating all loan interest I've paid in 2010. Can I still deduct this interest on my taxes? Should I send this letter in with my return to the IRS? Anyone with experience in student loan taxes, your help is greatly appretiated!

Regards,

Zach

Member Summary
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
Thanks for visiting FatWallet.com. Join for free to remove this ad.

Yes, send it in to the IRS. As long as you can document it, it's ok.

are you still a student?

@slc39 - awesome, I will do this. Thanks

@dag16 - No longer a student and nobody is claiming me as a dependent.

If your interest is above $600, they will automatically send you a 1098T.

Has anyone had the 1098 not match the actual interest charged? Every year the amount on the 1098 is less than just adding up the monthly interest payment (Sallie Mae breaks out monthly pricipal/int amounts)

I would attach the letter from Citibank to your tax return, just to be extra sure. Send a photocopy, too, not the original. It is so cheesy Citibank can't do better than that for a turn-around time on the form... I have a Citibank loan too. Like we don't pay them enough already.

myhotrs said:   Has anyone had the 1098 not match the actual interest charged? Every year the amount on the 1098 is less than just adding up the monthly interest payment (Sallie Mae breaks out monthly pricipal/int amounts)

Just saw my 1098-E from Sallie Mae which states < $700 in interest paid. Adding up interest paid from monthly statement yields closer to $900. Is it I or Sallie Mae that is mistaken?

Call Sallie Mae and ask them. They may be doing some weird accounting thing.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014