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April 17, 2023
Question

Husband cosigned student loans for daughters.1098e lists their names,not husband They are dependents of ours. Can we claim the interest?Do we list tuition on the return?

  • April 17, 2023
  • 1 reply
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Do we list how much we paid in tuition for them?  If so, where?

1 reply

April 17, 2023

Yes, if they are dependents and are in school, then you would list their tuition on your return as well as claiming the student loan interest from the student loan. if you are repaying it. 

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kpb1234Author
April 17, 2023

Thank you.  Where do I list these?

KrisD15
April 17, 2023

Form 1098-E reports the interest paid. 

Enter that under

Deductions & Credits 

Education

Student Loan Interest paid (Form 1098-E) 

You do not enter the expense paid for with that loan money, however the interest is only claimed if the student loans were used for education expenses. 

I assume the student loans were used for education expense. 

 

NEXT, and a separate subject is Education Credits. 

If more was PAID for education expenses than what was received in Scholarships and/or other financial assistance, the might be an Education Credit available. 

 

If there is an education credit available, the person that claims the student gets that credit. 

To claim the credit, enter Form 1098-T which should have been issued to the student. Sometimes the student needs to go online to get it from the school. 

 

Box 1 on the 1098-T reports what was PAID to the school for tuition expense. 

Box 5 on the 1098-T reports what was posted in Scholarships for the year. 

If Box 1 is larger than Box 5, you might get a credit.

If Box 5 is larger than Box 1, the student might need to claim taxable income. 

 

Pub 970 has more details. 

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