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Question

1098-E can i claim it

Forum|Forum|6 years ago
February 2, 2020
1 reply
0 views

Am I able to claim the interest on my daughter student lone if I'm the co-signer on this loan and paying the interest

Yes you can.

If you meet all of the following requirements, you can claim the student interest deduction:

Legally obligated to pay interest on the loan
Parent making payments on your dependent student's loan
Paid interest on a qualified student loan in 2019
Not using the Married filing separate status
Meet the modified adjusted gross income limits

The input for the student loan interest would go under the Federal section.

Select "Deductions & Credits"
Select "Education"
Select "Student Loan Interest Paid (Form 1098-E).

See the attached for additional information:

Student loan interest deduction

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So as the co-signer I understand that I can deduct my dependant son's student loan interest - I have been making interest payments for him. However, I am not listed on the 1098-e, it only has his name on it, and Turbo Tax tells me I cannot claim it. So how to claim it?