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March 18, 2024
Question

I am a cosigner on student loan and made all payments in 2023.1098-E is in parent's name,they r not claiming me as dependent on their taxes,can I take the int deduction?

  • March 18, 2024
  • 2 replies
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2 replies

March 18, 2024

I am assuming you are the person the loan was taken out for your education and your parents or someone else cosigned for you?

 

Yes, you can claim the 1098-E on your return as long as you are legally liable to make the payments and you make the payments.

 

To enter your Student Loan interest select the following:

  • Deductions and Credits
  • Show more next to Education
  • Student Loan Interest Paid (Form 1098-E)
  • Then enter your student loan interest paid

Student loan interest will lower your taxable income and is a deduction you can take even when you choose to take the standard deduction. 

 

Student Loan Interest Deduction

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Employee
March 18, 2024

Yes, you can take the interest deduction since you are liable for the loan and they are not claiming you as a dependent. 

smbmAuthor
March 19, 2024

Thanks very much!