Co-Signer 1098-E Form, Parent and only one making all payments.

maryb34 · ‎January 24, 2023

It seems like I have met all the requirements below:

I pay on my adult daughters private student loans, Sallie Mae, I've paid all the payments, but they won't send me the 1098-E form, only a letter stating what was paid in interest on both of the loans seeing that I'm only the co-signer.

I have made all these payments, this child has disappeared from the whole family, so can't get ahold of her, so no way to get the actual form.

Can I claim this on my taxes?

Do I fiscally need the 1098-E Form?

You can claim the deduction if all of the following apply:

You paid interest on a qualified student loan in tax year 2020 - I Did
You can take the deduction as a student, or as a parent making payments on your dependent student’s loan. However, you or your spouse, if filing jointly, can't be claimed as dependents on someone else's return. She's (Daughter, but not living with me at the time) Not My Dependent and Wasn't at the time of the loan's origination??
You're legally obligated to pay interest on a qualified student loan. - Yes
Your filing status isn't married filing separately. Filing Single
Your MAGI is less than a specified amount, which is set annually. Yes

They really need to change Co-Signer Rules and laws!!

My advice to everyone reading this, DO NOT EVER CO-SIGN FOR ANYTHING-EVER!! TO ANYONE!!

Thank you for any and all help with this.

Mary

Bsch4477 · ‎January 24, 2023

I’m not clear. Was she your dependent when the loan was taken out?

AnnetteB6 · ‎January 24, 2023

To answer one of your questions, you do not need to have the physical Form 1098-E in order to claim student loan interest.

However, you do need to meet all the qualifications in order to legally be able to claim that interest on your tax return. Based on the information that you shared, if your daughter was not your dependent at the time the loan was made, then you do not qualify to claim the interest on your tax return.