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June 5, 2019
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Can I claim the student loan interest my dependent paid themselves on my taxes since they cannot claim it on theirs?

  • June 5, 2019
  • 1 reply
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Unfortunately, no.

You are only allowed to deduct interest that you personally pay.

You can only deduct student loan interest if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2017.
  • You are legally obligated to pay interest on a qualified student loan
  • Your filing status is not married filing separately
  • Your MAGI 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

1 reply

Answer
June 5, 2019
Unfortunately, no.

You are only allowed to deduct interest that you personally pay.

You can only deduct student loan interest if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2017.
  • You are legally obligated to pay interest on a qualified student loan
  • Your filing status is not married filing separately
  • Your MAGI 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