Submit a request

FAQ: Tax Forms (1098-E & 1099-MISC)

 

Each year, you may receive tax documents from Earnest if you paid interest on a student loan refinance, private student loan or received at least $600 in cash bonuses from us.  Below you can find our most common questions for the upcoming tax season.  

 

What is a 1098-E and 1099-MISC?

Form 1098-E is a Student Loan Interest Statement the IRS requires us to issue to borrowers who have paid eligible student loan interest during the calendar year. You may be able to deduct some or even all of that interest on your federal income tax return. We recommend consulting your tax advisor if you have questions. 

Form 1099-MISC is a tax form detailing the miscellaneous income you’ve received.  You can expect to receive a 1099-MISC from Earnest if you’ve received $600 or more last year from our student loan refinancing bonus and/or referral programs.

 

When will I receive my tax form(s)?

We’ll be sending your tax form(s) no later than January 31st.  If you expect to receive your tax form(s) by mail, you’ll want to allow additional mail processing time (usually 7-10 days) from January 31st.

We’ll be in touch via email as soon as your tax form(s) are sent. Depending on the way you’ve chosen to receive your loan information from us, you can receive your tax form(s) electronically or by mail.

Electronic delivery (paperless) - Once you receive notice that your tax form is available online, you can access and download the form(s) from your online inbox.  To access your inbox you’ll want to:

  1. Log in to your Earnest account
  2. Click the “Loan Details” button
  3. From the menu on the left, choose “Inbox”
  4. Scroll down to the “Tax Statements” section to access your form(s)

By mail - We’ll mail your tax form(s) no later than January 31st to the address listed on your Earnest account.  We recommend checking your address on file to ensure it is correct. Any changes to your address must be received by January 16th.

You can view/update your address by:

  1. Logging into your Earnest profile.
  2. Go to the "My Profile" tab on the top of the page.
  3. Click on the "Personal" tab from the menu on the left.
  4. Here you can view or update your address. 
  5. If you update your address, make sure to save your changes.

 

How can I confirm if I’ll receive my tax form(s) by mail or electronically? 

You can verify your preferred method by checking your online profile. You can access your online profile by:

  1. Logging in to your Earnest account
  2. Click the “Loan Details” button
  3. Scroll to the “Profile” section, IF you see
  •  Screen_Shot_2020-01-07_at_8.26.29_AM.png you'll receive your tax form(s) by mail
  • Screen_Shot_2020-01-07_at_8.38.33_AM.pngyou’ll receive your tax form(s) electronically

 

How can I change the method my tax form(s) are delivered?

Any changes to your delivery preferences must be received no later than January 16th. You can update your delivery preferences by:

  1. Logging in to your Earnest account
  2. Click the “Loan Details” button
  3. Scroll to the “Profile” section, where you’ll see a green button to either opt in or opt out of eDelivery (paperless). 

 

I’m receiving my tax form(s) by mail, how can I verify my address?

Any changes to your address must be received no later than January 16th. To view/changes your address you’ll:

  1. Log into your Earnest profile.
  2. Go to the "My Profile" tab on the top of the page.
  3. Click on the "Personal" tab from the menu on the left.
  4. Here you can view or update your address. 
  5. If you update your address, make sure to save your changes.

 

Any further questions?

We’re here to help! You can reach our Client Happiness Team by clicking the “Contact us” button found at the bottom of this article.

Have more questions? Submit a request