One of my daughters is 26, and will file separately. However, I paid off a $5,000 school loan in 2016. Can either of us deduct this expense? I was not a cosigner.

robertnovel2002 · ‎June 3, 2019

MinhT · ‎June 3, 2019

Unfortunately, helping your daughter pay off a student loan does not qualify you for any tax break.

It is considered as a gift to your daughter. You do not need to report it, neither does your daughter.

If her name is on the loan, your daughter can claim the student loan interest deduction.

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MinhT · ‎June 3, 2019

Unfortunately, helping your daughter pay off a student loan does not qualify you for any tax break.

It is considered as a gift to your daughter. You do not need to report it, neither does your daughter.

If her name is on the loan, your daughter can claim the student loan interest deduction.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Do you have an Intuit account?