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posted Jun 6, 2019 9:54:25 AM

Can i deduct parent plus student loan interest for my son, who is not my dependent now but i am still paying the loan and have 1099 E in the amount of $8372.75

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1 Best answer
Level 1
Jun 6, 2019 9:54:27 AM

Yes, you can claim the interest.

This deduction lets you claim up to $2,500 of interest you paid on qualifying student loans. To get this deduction:

- You need your Form 1098-E.
- The student loan has to be in your name.

If you are a parent and the loan is in your child's name, then you can't deduct the interest on your tax return even if your child is your dependent on your tax return.

Follow the steps below to add this to your return:

https://ttlc.intuit.com/replies/4801974

1 Replies
Level 1
Jun 6, 2019 9:54:27 AM

Yes, you can claim the interest.

This deduction lets you claim up to $2,500 of interest you paid on qualifying student loans. To get this deduction:

- You need your Form 1098-E.
- The student loan has to be in your name.

If you are a parent and the loan is in your child's name, then you can't deduct the interest on your tax return even if your child is your dependent on your tax return.

Follow the steps below to add this to your return:

https://ttlc.intuit.com/replies/4801974