Q. What if I can't claim my son as a dependent because he is over the age limit but I am the cosigner on his school loan and I have paid the interest and he didn't worked enough to be able to deduct the loan interest?
A. Yes, you may deduct the interest, on your tax return.
You may only, claim the interest deduction if you are legally obligated to pay it and you actually paid it. Co-signing counts as being legally obligated. It does not matter that the 1098-E is in the student's name. It does not matter that he is not currently your dependent, as long as he was your dependent at the time the student loans were used to pay college expenses.
