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Level 2
February 27, 2022
Solved

Student Loan Interest.My son is unemployed and I pay his student loan (Wells Fargo). Can I claim the student loaninterest on my taxes?

  • February 27, 2022
  • 5 replies
  • 69 views
Received 1098 for interest (addressed to my son)
Best answer by xmasbaby0

Yes since you co-signed and you are making the payments you can deduct the interest paid for the student loan.

5 replies

Level 15
February 27, 2022

Was your son a dependent on your tax return when he took out the loan?   Did you co-sign?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rlecessiAuthor
Level 2
February 27, 2022

Hello and thanks for your prompt reply. My son was a dependent when we took out the loan. I did cosign for him. Thanks.

xmasbaby0Level 15Answer
Level 15
February 27, 2022

Yes since you co-signed and you are making the payments you can deduct the interest paid for the student loan.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**