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June 3, 2019
Question

Can I deduct a college loan that I pay but isn't under my name but instead my fathers?

  • June 3, 2019
  • 1 reply
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1 reply

June 3, 2019

Unfortunately, only the person who is legally obligated to pay the loan can deduct the interest. Please view the student loan interest deduction qualifications:

You can claim the student loan interest deduction if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2018;
  • You can take the deduction as a student, or as a parent making payments on your dependent student’s loan. However, you or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.
  • You're legally obligated to pay interest on a qualified student loan;
  • Your filing status isn't married filing separately; and
  • Your MAGI is less than a specified amount, which is set annually.
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