Can co-borrower deduct student loan interest paid on taxes

Forum|Forum|2 years ago
January 28, 2024
2 replies
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I am the cosigner for my daughter's student loan and I have been making all interest payments. 1098-E is in her name, TurboTax is not accepting the deduction. What form do I need to file to have TT accept the deduction.

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Best answer by Hal_Al

You can claim the interest deduction, if you meet the three requirements:

You paid the interest
You are legally obligated to pay it (co-signing counts)
The student was your dependent, at the time the loan was used to pay for qualified educational expenses

Even though the 1098-E may be in the student's name, enter the amount you paid at the 1098-E screen, in TurboTax.

MinhT1

Yes, if you co-sign a student loan and‌ paid the interest on it, you can take the student loan interest deduction.

Please read this TurboTax article on the student loan interest deduction.

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Hal_AlAnswer

Employee

You can claim the interest deduction, if you meet the three requirements:

You paid the interest
You are legally obligated to pay it (co-signing counts)
The student was your dependent, at the time the loan was used to pay for qualified educational expenses

Even though the 1098-E may be in the student's name, enter the amount you paid at the 1098-E screen, in TurboTax.