Solved: I received a 1098-e for interest I paid on a parent loan that I took out to pay for my daughter's tuition. Ca I deduct this from my income?
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I received a 1098-e for interest I paid on a parent loan that I took out to pay for my daughter's tuition. Ca I deduct this from my income?

 
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Level 9

I received a 1098-e for interest I paid on a parent loan that I took out to pay for my daughter's tuition. Ca I deduct this from my income?

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

  • You paid interest on a qualified student loan in tax year 2016;
  • You're legally obligated to pay interest on a qualified student loan;
  • Your filing status isn't married filing separately;
  • Your MAGI is less than a specified amount which is set annually; and
  • You or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.

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Level 9

I received a 1098-e for interest I paid on a parent loan that I took out to pay for my daughter's tuition. Ca I deduct this from my income?

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

  • You paid interest on a qualified student loan in tax year 2016;
  • You're legally obligated to pay interest on a qualified student loan;
  • Your filing status isn't married filing separately;
  • Your MAGI is less than a specified amount which is set annually; and
  • You or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.

**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

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