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Get your taxes done using TurboTax
Yes. You can claim the education credit even if the loan is in your parent’s name.
The IRS says if someone other than you, your spouse, or your dependent (such as a relative or former spouse) makes a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses, then the student is treated as receiving the payment from the other person and, in turn, paying the institution.
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January 21, 2021
1:54 PM