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February 3, 2023
Question

I am cosigner on my daughter's private student loan, only she received a 1098E. I claim her as a dependent. Can I deduct the interest on my return?

  • February 3, 2023
  • 1 reply
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1 reply

SharonD007
February 3, 2023

Yes, a parent who is the cosigner of a student loan can claim the student loan interest deduction on their tax return. To claim the student loan interest deduction, the borrower must be legally obligated to make the payments on the student loans and the student must be a dependent of the cosigner. Cosigning a loan counts as a legal obligation to make the payments.

 

Please review the IRS Topic # 45 Student Loan Interest Deduction for more information.

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