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Form 1098-E

Parent name is listed on form 1098-E and makes all payments.  Student is an adult and cannot be claimed as a dependent.  TurboTax says the interest paid cannot be credited to the parent.  I am reading many other posts that say I should be able to list it as the legal owner and payer of the interest on the loan

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2 Replies
MinhT1
Expert Alumni

Form 1098-E

If you are the borrower or co-signer of a student loan you took out for your dependent and you paid the loan, you can deduct the student loan interest.

 

Please read this TurboTax article on the student loan interest deduction.

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Hal_Al
Level 15

Form 1098-E

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

Since you have a 1098-E in your name, there should be no part of the interview stopping you from getting the interest deduction ("TurboTax says the interest paid cannot be credited to the parent"?).

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