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Education
It depends. If the child was your dependent, then yes you can claim the interest deduction. If your child wasn't your dependent when you took out the loan, then you won't be able to claim the interest. This is true even if you are the cosigner and you paid the interest, and you are legally responsible for the loan.
Here is a link to IRS Topic 456 which lists the eligibility requirements.
March 16, 2021
12:06 PM