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Filling out my taxes and need some info on 1098-E form

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ChadTower:

I've been taking the student loan interest deduction for both myself and my wife for years.  You don't have to send the 1098-E in, or at least I never have, but you do need to have it for your records in case of an audit.  You should have one of those forms for every student loan account.

Chris G:
I heard about some idiots (we're talking individuals, not businesses) out there that claimed ridiculous amounts, like up to $50,000, for that phone credit.  Talk about instant audit...

ChadTower:

And likely jail time for fraud.  You've got to believe the IRS has a database trigger on that very deduction.  Anomalies used to be really hard to find so people got away with them... nowadays, a decent search algorithm picks up so many so fast that the issue is a lack of auditors, not data.

Chris G:
Heh - database trigger... you must have some programming background.  Not exactly a blue-collar concept.   :)

ChadTower:

Yes, that would be the case.   :)  Quite a bit of it.

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