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Can co-borrower deduct student loan interest paid on taxes

I am the cosigner for my daughter's student loan and I have been making all interest payments. 1098-E is in her name, TurboTax is not accepting the deduction. What form do I need to file to have TT accept the deduction.
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1 Best answer

Accepted Solutions
Hal_Al
Level 15

Can co-borrower deduct student loan interest paid on taxes

You can claim the interest deduction, if you meet the three requirements:

  1. You paid the interest
  2. You are legally obligated to pay it (co-signing counts)
  3. The student was your dependent, at the time the loan was used to pay for qualified educational expenses

Even though the 1098-E may be in the student's name, enter the amount you paid at the 1098-E screen, in TurboTax. 

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2 Replies
MinhT1
Expert Alumni

Can co-borrower deduct student loan interest paid on taxes

Yes, if you co-sign a student loan and‌ paid the interest on it, you can take the student loan interest deduction.

 

Please read this TurboTax article on the student loan interest deduction.

 

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Hal_Al
Level 15

Can co-borrower deduct student loan interest paid on taxes

You can claim the interest deduction, if you meet the three requirements:

  1. You paid the interest
  2. You are legally obligated to pay it (co-signing counts)
  3. The student was your dependent, at the time the loan was used to pay for qualified educational expenses

Even though the 1098-E may be in the student's name, enter the amount you paid at the 1098-E screen, in TurboTax. 

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