If my parents claim me do I need to still submit a 1098-E and a 1098-T or will my parents submit it?

[georgesT]

Your parents may claim the education credit(1098-T) if they are claiming you as dependent.

As dependent, you cannot claim student loan interest(1098-E) and education credit(1098-T)

Your 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.

 You can only deduct  student loan interest if  all of the following apply:

• You paid interest on a qualified student loan in tax year 2015
• You are legally obligated to pay interest on a qualified student loan
• Your filing status is not married filing separately
• Your MAGI is less than a specified amount which is set annually, and
• You or your spouse, if filing jointly, cannot be claimed as dependent

[tonyTaxQuestions357]

What do I do if I, the student, had a student loan under my name and paid for my loan AND am filing as a dependent. Can I file the 1098-E on my tax return or should my parent file it on their tax return? What about my 1098-T? Thanks.

[ColeenD3]

@tonyTaxQuestions357

Your parents may claim the education credit(1098-T) if they are claiming you as dependent.

As dependent, you cannot claim student loan interest(1098-E) and education credit(1098-T)

Your 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.

 You can only deduct  student loan interest if  all of the following apply:

• You paid interest on a qualified student loan in tax year 2019
• You are legally obligated to pay interest on a qualified student loan
• Your filing status is not married filing separately
• Your MAGI is less than a specified amount which is set annually, and
• You or your spouse, if filing jointly, cannot be claimed as dependent

[Jnnwilliams]

If a parent is claiming the student as a dependent, and is a co-signer on the student loan and pays the interest, can they claim the interest paid on the 1098 e? And from my understanding, they claim the student's 1098 T despite the students name being on it?

[RayW7]

You need to determine if the student is a dependent. If a parent claims his or her student as a dependent, then that’s who gets to take the tax credit or education deduction.

Whether it’s the American Opportunity Tax Credit or the Lifetime Learning Credit, only one person gets the tax advantage and it often comes down to whether the student is a dependent in the eyes of the IRS. If a student is a dependent on someone else’s tax return, the student doesn’t qualify for these tax breaks.

If a student isn’t claimed as a dependent, though, it’s possible for him or her to claim an education tax credit, or take the deduction.  One thing to keep in mind, each student cannot claim more than one tax break.

Your 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.