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10439: 1098-E Student Loan Interest Deduction

1040 Individual Data Entry

I have interest from a student loan reported on a 1098-E.  Where can I enter that in the software?

There is no separate 1098-E screen in Drake Tax Software. Deductible interest from a student loan can be entered directly on Screen 4 Adjustments, Line 33.

To take the deduction, the taxpayer/spouse has to meet all of the following requirements:

  • Paid interest in 20YY on a qualified student loan (where YY is the tax year),
  • Filing status is any status except Married Filing Separately,
  • Modified AGI is less than $80,000 if Single, Head of Household, or Qualifying Widow(er); or $165,000 if Married Filing Jointly,
  • Not claimed as a dependent on another taxpayer's 20YY tax return.

If the amount you enter on screen 4, line 33 does not flow to form 1040, Schedule 1, line 33, review Wks SLID (WK_SLID in Drake15 and prior) in View Mode of the return. Wks SLID provides the calculation results for the deduction. If the Wks SLID is not produced, it's likely that the taxpayer does not qualify for the deduction. 

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