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Yes, you can deduct student loan if you are liable to pay it (and you are as a co-signer) and actually paid it (and providing you meet general qualifications I listed below). Here is data entry:
The issue may arise if the form 198-E is not in your name. However, if you ever receive a letter from the IRS to "prove" that you were obligated to pay the loan, you can simply send them a copy of the loan with your name on it.
You can only deduct Student Loan Interest if all of the following apply:
may I claim the interest, all of which I've paid, on my daughter's school loan, for which I am the cosigner, without having claimed her as a dependent?
Yes, you can claim the student loan interest even though you are not claiming your daughter since you are legally obligated to pay the student loan interest. However, your filing status cannot be married filing separately. Please view this TurboTax FAQ to view the full list of qualifications for claiming the student loan interest.
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