Understanding the difference between IRS 1098-E and IRS 1098-F

Last updated on Dec 8, 2025

What is IRS 1098-E?

The IRS 1098-E is a tax form issued by educational institutions to report interest payments on qualified student loans. It provides borrowers with information needed to claim a student loan interest deduction on their tax returns.

This form serves to assist taxpayers in calculating the amount of interest they can deduct, thus lowering their taxable income and overall tax liability. Understanding this form is essential for any individual working to optimize their tax filings.

1.

You may need IRS 1098-E if:
2.

You are paying interest on a qualified student loan.
3.

You want to deduct student loan interest on your tax return.
4.

You can confirm your total interest paid with accurate documentation.

Who needs to complete a IRS 1098-E?

Individuals who have taken out student loans that accrue interest should be aware of when they need this form.

1.

Typically required for:
2.

Borrowers with paid interest on student loans during the tax year.
3.

Taxpayers seeking to claim the student loan interest deduction.
4.

Anyone who has made interest payments exceeding $600 on their loans in a calendar year.
5.

Students who have received payments for student loan interest from the lender.

When is IRS 1098-E due?

The IRS requires lenders to send out Form 1098-E to borrowers by January 31 of the following year. Borrowers should ensure they have this form in hand before they file their taxes to claim the deduction accurately.

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What is IRS 1098-F?

The IRS 1098-F form is primarily used to report payments received for qualified tuition and related expenses from students. Unlike the 1098-E, which is focused on interest, this form details the actual payments made towards tuition fees.

This form helps students and parents track eligible educational expenses that can potentially qualify for tax credits like the American Opportunity Tax Credit (AOTC) or the Lifetime Learning Credit (LLC).

1.

You may need IRS 1098-F if:
2.

You have made payments for tuition and related fees during the tax year.
3.

You want to claim education tax credits on your tax return.
4.

You need documentation to support claims for educational expenses in your tax filings.

Who needs to complete a IRS 1098-F?

Students and families who are financing education – whether through direct payments or financial aid – should be aware of their obligations regarding this form.

1.

Typically required for:
2.

Students paying higher education tuition fees directly to educational institutions.
3.

Parents or guardians paying for a child's college tuition.
4.

Individuals claiming education tax credits based on tuition payments made.
5.

Any taxpayer needing to report payments for tuition-related expenses.

When is IRS 1098-F due?

The deadline for educational institutions to furnish the IRS 1098-F to the student is also January 31 of the following tax year. Timely receipt of this form is crucial for accurate tax preparation.

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Key differences between IRS 1098-E and IRS 1098-F

While both IRS 1098-E and IRS 1098-F are related to education financing, they serve different purposes.

1.

Main differences include:
2.

IRS 1098-E reports interest on student loans, while IRS 1098-F reports tuition payments.
3.

The 1098-E is used to claim student loan interest deductions, whereas the 1098-F supports education tax credits.
4.

IRS 1098-E may be issued by lenders, while IRS 1098-F is typically issued by educational institutions.
5.

Who receives the forms differs; borrowers receive the 1098-E, while students and parents get the 1098-F.

Understanding potential penalties

Filing the wrong forms or failing to file can result in penalties from the IRS. Understanding these potential penalties is crucial in order to avoid unnecessary financial burdens.

Failing to report student loan interest or inaccurately filing Form 1098-E can lead to penalties. The IRS may impose fines for incorrect information, which could include failure to file and underreporting deductions. It's essential to ensure that the interest reported is accurate and reflects what was paid to avoid additional taxes owed or penalties.

Similarly, inaccuracies in reporting tuition payments on IRS 1098-F can result in penalties. If a taxpayer fails to claim eligible expenses correctly, they might miss out on education tax credit opportunities, which can significantly impact tax liabilities. The IRS takes compliance seriously, and while there are no specific penalties for late filing of a 1098-F, incorrect filings can attract scrutiny and possible audits.

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Author:

by Iryna Marchuk

Lead Writer/Blogs Manager at airSlate

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