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New Member
posted Jan 28, 2024 6:49:36 AM

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
Level 15
Jan 28, 2024 7:21:58 AM

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. 

2 Replies
Expert Alumni
Jan 28, 2024 6:59:08 AM

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.

 

Level 15
Jan 28, 2024 7:21:58 AM

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.