Student loan interest is interest and eligible fees you paid during the year on a qualified student loan. It includes both required and voluntary interest payments. The amount provided to you on your Form 1098-E is a reflection of the amount of interest that has been paid during the year on qualified student loans.
Keep in mind that you do not need an actual Form 1098-E to claim the amount paid on your taxes. You can complete this information with your amount paid and the servicer tax identification number 94-1347393 for tax amounts Wells Fargo Education Financial Services has provided. For tax amounts provided by Firstmark Services, contact Firstmark Services directly for tax information.
For more information, see IRS Pub. 970, and the Student Loan Interest Deduction Worksheet in your Form 1040 instructions. Always consult your tax advisor for individual tax guidance.
If you are the primary borrower and made qualifying payments in 2021, Wells Fargo will mail you an Internal Revenue Service (IRS) Form 1098-E for the portion of 2021 in which your loan was serviced by Wells Fargo Education Financial Services. This will be issued by January 31, 2022. Firstmark Services will provide you with an IRS Form 1098-E for any qualifying payments received during the remainder of 2021.
Please note that while the IRS only requires 1098-E forms be provided if you have paid at least $600 in eligible interest, Wells Fargo generates 1098-E forms for customers who have paid at least $100 in eligible interest due to customer demand. If you did not pay at least $100.00 in eligible interest and fees during the tax year, you will not automatically receive a form 1098-E from Wells Fargo through the mail, even if you received one last year.
For 2021 tax information for student loans that have transferred to Firstmark Services, please visit Firstmark Services or call 1-833-531-1307 for more information.
For general tax questions related to any student loan(s) still being serviced at Wells Fargo, please contact Wells Fargo at 1-800-658-3567 Monday to Friday: 7 am to 5 pm Central Time.