My daughter has a student loan with Fed loan . My wife and I also have a fed loan can I deduct the interest on the loan

[MichaelL1 · Accepted solution]

Yes

Parents may claim the student loan interest depending on how the loan is set up:

• If the debt is in parent's name, parents can claim the deduction if they paid it.
• If it's in your name, but parent paid it, you can claim the interest as long as the conditions below are met (being claimed as a dependent is not met in your situation).
• If your name is on the student loan and  parents pays it AND claims you as a dependent, then NEITHER of you can claim the student loan interest deduction.