Yes, you
can report the student loan interest on Form 198-E. When you
consolidated - you paid off the accrued interest on the loans, and this portion
is deductible.
If your brother claims you as a dependent, he cannot claim the student loan interest, unless he paid it, and he was legally obligated to 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 2015
- 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
