Solved: My daughter's private student loan has me as coborrower, but 1098E has her name listed as borrower. Do I get credit for payments I made? Your answers are inconsistent
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My daughter's private student loan has me as coborrower, but 1098E has her name listed as borrower. Do I get credit for payments I made? Your answers are inconsistent

some answers say a coborrower is able to take credit for payments he/she made, other answeres say no, because only the name of the student is on the 1098E. I am listed on the loan as responsible as a coborrower
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My daughter's private student loan has me as coborrower, but 1098E has her name listed as borrower. Do I get credit for payments I made? Your answers are inconsistent

Yes, if your daughter was your dependent when you took out this loan, then you can claim the deduction if all of the following apply:
    • You paid interest on a qualified student loan in tax year 2016
    • You are legally obligated to pay interest on a qualified student loan (meaning that you are either the borrower or co-borrower)
    • Your filing status is not married filing separately
    • Your MAGI is less than a specified amount which is set annually, and
    • You or your spouse, if filing jointly, cannot be claimed as dependents on someone else's return
Please see the following IRS link for more information: https://www.irs.gov/taxtopics/tc456.html


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New Member

My daughter's private student loan has me as coborrower, but 1098E has her name listed as borrower. Do I get credit for payments I made? Your answers are inconsistent

Yes, if your daughter was your dependent when you took out this loan, then you can claim the deduction if all of the following apply:
    • You paid interest on a qualified student loan in tax year 2016
    • You are legally obligated to pay interest on a qualified student loan (meaning that you are either the borrower or co-borrower)
    • Your filing status is not married filing separately
    • Your MAGI is less than a specified amount which is set annually, and
    • You or your spouse, if filing jointly, cannot be claimed as dependents on someone else's return
Please see the following IRS link for more information: https://www.irs.gov/taxtopics/tc456.html


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