All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 2
Registered: ‎05-02-2018
Accepted Solution

How to file a 1040X for 1098E

[ Edited ]

I had my taxes filed at H&R Block and realized that I didn't file my 1098E. It shows that I paid $748.35 in interest in 2017 so I think that's significant enough that I should amend my taxes. I took a look at the 1040X form and do not know where to put the 1098E. Any help would be appreciated, thank you!

Council Member
Posts: 548
Registered: ‎04-06-2016

Re: How to file a 1040X for 1098E

Student loan interest is an adjustment to income that will show up as a decrease to your AGI. First, you may want to make sure you're eligible to take the student loan interest deduction either using the IRS tool here: https://www.irs.gov/help/ita/can-i-claim-a-deduction-for-student-loan-interest or reading the info in Pub 970 (starting on pg 31) here: https://www.irs.gov/pub/irs-pdf/p970.pdf .

 

Are you using the same tax software you used to file your original return to prepare your amended return?  If so, you can usually go in and tell it you want to create an amended return and it will walk you through the process. Typically this involves saving a copy of your original return, and then going in and making the changes to "correct" your return, including a description of the changes.  Some programs will ask you to enter the numbers from your original return for Column A of the 1040X, but others will carry those numbers automatically.

 

If you're doing it yourself, the numbers in Column A will come from your original return, To amend your return (including recalculating your AGI and tax), you'll need to replicate your 1040 with the student loan interest deduction included.  Once you create the "new" 1040, the revised numbers will go in Column C and Column B will be the difference.  


The 1040X instructions https://www.irs.gov/pub/irs-pdf/i1040x.pdf will tell you where on your original return to find the numbers for each line of the 1040X.

 

Good luck!

Karen

Pioneer
Posts: 2
Registered: ‎05-02-2018

Re: How to file a 1040X for 1098E

Ah I see it. Thank you so much!

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Council Member
Posts: 548
Registered: ‎04-06-2016

Re: How to file a 1040X for 1098E

You're welcome!