Question

Tuition question

Forum|Forum|2 years ago
October 25, 2023
1 reply
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My husband has a son in college and my husband took out a loan to help him. His son is the person on the loan, my husband is a co-signer and pays the loan. His sons mom claims him on her taxes. Who can write off interest paid?

Ask the Experts - Extension - Sept 2023

A

AmitaR

Hello ClaudiaJB,

You can claim the interest on a qualified student loan only if the loan was in your name and you paid the interest on it. So in your situation neither the dad nor the mom would be able to claim that interest since the loan is not in their name. Being a co-signer is not the same. The loan is in the son's name and son is responsible for paying it even though dad is paying it.

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