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New Contributor
Posts: 51
Registered: ‎08-25-2011
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Modify tax returns for student loan interest

I have private student loans through discover (use to be citibank). I did not realize until recently that I have to mail them a W9s to receive qualified student loan interest statements for my tax returns. I have been paying on these loans since Jan. 2009 so I would need to file form 1040x for 2009, 2010 and 2011. Does anyone know if Discover will provide me with the qualified interest form (1098E, I believe) for the past 3 years? I was still a graduate student in 2009 and 2010 so I doubt the amended return would result in much. However, in 2011, I paid mostly interest on these loans which was like $5000 so I definitely want to amend that one. Has anyone ever gone through this?

 

Am I correct with all the forms? Mail a W9s to Discover and request 1098E statements for 2009, 2010 and 2011 and then file form 1040x to the IRS?

Established Contributor
Posts: 731
Registered: ‎08-12-2011
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Re: Modify tax returns for student loan interest

Check your income in 2011, was it over $70 or $75k single?  or double that as joint?  Then your interest is probably not deductable and you'll be wasting time.  Check what the gross income limit was for SL interest deductions in 2011.

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