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June 1, 2019
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Student Loan Interest

  • June 1, 2019
  • 1 reply
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When entering student loan interest:  We are the co-signers on student loan but 1098 did not come in parent name.  Can we still deduct the interest?
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You can claim the deduction as long as the loan is in your name (or your spouse's if filing jointly) even if somebody else paid the interest.

However, if the loan is in your name but somebody else claims you as a dependent, neither party is allowed to claim the deduction.


1 reply

Answer
June 1, 2019

You can claim the deduction as long as the loan is in your name (or your spouse's if filing jointly) even if somebody else paid the interest.

However, if the loan is in your name but somebody else claims you as a dependent, neither party is allowed to claim the deduction.