Good to Know: Some education-related tax info

by hedy on December 26, 2012

As the end of the year is almost upon us, there is some tax document info I’d like to share.  Firstly, if you paid interest on a student loan, you will get a Form 1098-E to deduct the interest on your taxes.  If you are like me and this year your federal loan was sold to Mohela, you will be getting two 1098-E forms:  one from Mohela, and one from the federal government.

Meanwhile, as a graduate student, I will receive a 1098-T reflecting the tuition I have paid this year.  As a graduate student, I am not eligible for the Hope Education Credit; however, I think I may be eligible for the Lifetime Learning Credit.

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