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posted May 31, 2019 10:21:49 PM

Student loan interest deduction

my spouse and i claim our college daughter on our tax return while she has been in school and since we can deduct her college expenses does this also include student loan interest that she has paid even though we co signed on the loan.  we did pay all of her student loan for her this year.

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Level 7
May 31, 2019 10:21:51 PM

You can deduct student loan interest if:

  • You paid interest on a qualified student loan in tax year 2015

  • You are legally obligated to pay interest (ie. you are a co-signer) on a qualified student loan

  • You do not file Maried Filing Separate return

  • Your Modified Adjusted Gross Income 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.

To enter student loan interest:

  • Type in 1098e (no dash) in the search box, top right of your screen, then click the magnifying glass

  • Click the jump to 1098e link in the search results.

  • Follow the onscreen instructions to enter