I am a co-signer on my son's student loans which were used to pay for his expenses. Can I claim the American Opportunity Tax Credit if I am the co-signer of these loans?

Forum|Forum|3 years ago
January 30, 2023
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xmasbaby0

Employee

Co-signing his student loan has nothing to do with the AOC. But if he is your dependent you can enter the 1098T and claim the education credit.

https://ttlc.intuit.com/questions/3262983-who-is-eligible-to-take-the-american-opportunity-tax-credit

https://ttlc.intuit.com/questions/1901526-what-s-the-income-limit-for-the-american-opportunity-and-lifetime-learning-credits

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Hal_Al

Employee

Although the general rule, in taxes, is that you must be the one making the payment, to get the deduction, there is an exception for education. So, the loan is irrelevant for who can claim the credit. As long as the student qualifies as you dependent, you can claim the American Opportunity Tax Credit (AOTC) for his education, regardless of who's funds were used to pay the tuition.

But, if you co-signed the loan, the loan money is counted as support from you, for the dependent support test.