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New Member
posted Jan 26, 2025 7:45:57 AM

Can I claim the intrest I pay on my child's student loan. We are co-borrowers but only his name is listed on the 1098-E?

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1 Best answer
Level 15
Jan 26, 2025 8:29:53 AM

Yes.

 

The TurboTax interview does not ask if you received a 1098-E.  It only asks if you paid interest.  Answer yes and enter the info. 

 

The pop up window for "What if I paid interest for someone else" says:

If you are not the student the loan is for, you may still be eligible to deduct student loan interest on your tax return.

The following conditions must be met to take a deduction:

- Nobody else is claiming you as a dependent on their tax return
- Your filing status is not married filing separately
- The loan is a qualified student loan, and you are legally obligated to pay interest on it (co-signing counts)
- You made interest payments on the qualified student loan
- If you are paying for a dependent, they were your dependent when you took out the loan

2 Replies
Expert Alumni
Jan 26, 2025 7:56:29 AM

Yes, if you are the co-borrower and repaid the loan.

 

Please read this IRS document.

Level 15
Jan 26, 2025 8:29:53 AM

Yes.

 

The TurboTax interview does not ask if you received a 1098-E.  It only asks if you paid interest.  Answer yes and enter the info. 

 

The pop up window for "What if I paid interest for someone else" says:

If you are not the student the loan is for, you may still be eligible to deduct student loan interest on your tax return.

The following conditions must be met to take a deduction:

- Nobody else is claiming you as a dependent on their tax return
- Your filing status is not married filing separately
- The loan is a qualified student loan, and you are legally obligated to pay interest on it (co-signing counts)
- You made interest payments on the qualified student loan
- If you are paying for a dependent, they were your dependent when you took out the loan