Co-signing on the loan equates to being legally obligated to pay the loan. You have to claim the dependent and be legally obligated to pay the loan in order to claim the interest. All of the qualifications are below.
You can claim the deduction if all of the following apply:
- You paid interest on a qualified student loan in tax year 2022
- You or your spouse, if filing jointly, can't be claimed as dependents on someone else's return. (You can take the deduction as a student. If you're a parent making payments on your dependent student’s loan, you can also take the deduction)
- You're legally obligated to pay interest on a qualified student loan
- Your filing status isn't married filing separately
- Your MAGI is less than a specified amount, which is set annually
How to enter 1098-E - this link will tell you where to enter the deduction. @Al in NH
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