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For my student loan deduction it is under my mother's name but I am the one who makes the payments...do I not qualify for the deduction or is this something my mother would have to report on her taxes

Im just unsure of what to do since I do make the payments but since I'm not a dependant...I don't know how this impacts me? Thank you for the help!
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Expert Alumni

For my student loan deduction it is under my mother's name but I am the one who makes the payments...do I not qualify for the deduction or is this something my mother would have to report on her taxes

It's not enough that you paid the student loan. You or your mother have to meet ALL of the following to get the deduction:

  • You paid interest on a qualified student loan in tax year 2019.
  • 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.
  • You're legally obligated to pay interest on a qualified student loan. You also signed for the loan.
  • Your filing status isn't married filing separately.
  • Your MAGI is less than a specified amount, which is set annually.
  • For additional information, please see Can I claim my student loan?

 

To enterWhere do I enter student loan interest (Form 1098-E)?

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Level 15

For my student loan deduction it is under my mother's name but I am the one who makes the payments...do I not qualify for the deduction or is this something my mother would have to report on her taxes

You cannot deduct it since you are not legally required to pay it.

 

Your mother can deduct under the theory that you paying it is considered a gift to her. If the 1098-E comes to her, that will keep the IRS away. But, it would be better if you gave the money to her and let her pay it directly. 

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Expert Alumni

For my student loan deduction it is under my mother's name but I am the one who makes the payments...do I not qualify for the deduction or is this something my mother would have to report on her taxes

It's not enough that you paid the student loan. You or your mother have to meet ALL of the following to get the deduction:

  • You paid interest on a qualified student loan in tax year 2019.
  • 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.
  • You're legally obligated to pay interest on a qualified student loan. You also signed for the loan.
  • Your filing status isn't married filing separately.
  • Your MAGI is less than a specified amount, which is set annually.
  • For additional information, please see Can I claim my student loan?

 

To enterWhere do I enter student loan interest (Form 1098-E)?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Highlighted
Level 15

For my student loan deduction it is under my mother's name but I am the one who makes the payments...do I not qualify for the deduction or is this something my mother would have to report on her taxes

You cannot deduct it since you are not legally required to pay it.

 

Your mother can deduct under the theory that you paying it is considered a gift to her. If the 1098-E comes to her, that will keep the IRS away. But, it would be better if you gave the money to her and let her pay it directly. 

View solution in original post

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