How do I claim Student Loan interest as a cosigner when my kid is a deadbeat and I am pating the loans?

Forum|Forum|2 years ago
January 31, 2024
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TurboTax Deluxe Online

Bsch4477

Employee

Search for 1098-E and select the Jump to link at the top of the search results. Answer Yes to the question Did you get a 1098-E for student loan interest? If you land on the Here's your 1098-E info (or Here's what you paid in student loan interest) screen, you can either edit an existing payment or add a new one.

mglauner

If both your names are on the Student Loan, you can claim interest you paid. As a co-signer, you are legally obligated to pay the loan, so you are allowed to claim the interest.

Here's more info on Student Loan Interest Paid by Parent.

Hal_Al

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