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barbnbill
New Member

I have a 1098-E form in my name. Can give that to my son so he can use it towards his taxes

 
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3 Replies

I have a 1098-E form in my name. Can give that to my son so he can use it towards his taxes

Is his name on the loan as well?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
Carl
Level 15

I have a 1098-E form in my name. Can give that to my son so he can use it towards his taxes

yes. But only if your son has a legal obligation to pay the debt, "and" actually paid it in the tax year. If he is not listed as the primary borrower or co-borrower on the loan, then he does not have a legal obligation to pay it.

Carl
Level 15

I have a 1098-E form in my name. Can give that to my son so he can use it towards his taxes

As a side note for others reading this thread - this parent did it right. By listing the parent as the primary borrower, there is no question that this borrowed money did NOT count as income for the student providing more than 50% of their own support. So tell your students that if they dare click that YES button to the loans in their on-line college account, they're on their own and you're not paying a dime to them for anything out of your pocket. 🙂
Then when they look at you in shock, you simply reply "Welcome to the real world! Bet you thought life was fair huh?"
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