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?

track7911 · ‎May 31, 2019

MaryK1 · ‎May 31, 2019

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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MaryK1 · ‎May 31, 2019

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"