Student interest pd

[wbarbi]

Student Loan interest paid by parents. If a child is not claimed as a dependent on the parents tax return, he/she can deduct up to 2500 of student loan interest paid by mom and dad. Is this true? loan is in parents name, parents cannot deduct due to gross earnings are too much. Can I submit 2500 of student loan interest on my daughters tax return? she is not claimed as a dependent on my return.

[KenH1 · Accepted solution]

Only if she is is legally obligated to pay the loan (i.e. is a co-signer).

Student Loan Interest - IRS summary