Maybe. According to IRS Pub. 970 - Tax Benefits for Education:
Generally, you can claim the deduction if all of the following
requirements are met.
- Your filing status is any filing status except married filing separately.
- No one else is claiming an exemption for you on his or
her tax return.
- You are legally obligated to pay interest on a qualified
- You paid interest on a qualified student loan.
If we assume that you are not married, and you said that you paid the interest, the questions are:
- Are your parents claiming you as a dependent on their return?
- Are you legally obligated on the loan?
If the answer to #1 is No and #2 is Yes, then you can claim the interest.
Instructions for entering student loan interest are contained in the following FAQ:
For more information you can go to IRS Pub. 970 - Tax Benefits for Education.
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