It depends. Is your sibling your dependent? The cosigner of a student loan can claim the student loan interest deduction on their tax return. To claim the student loan interest deduction, the borrower must be legally obligated to make the payments on the student loans and the student must have been a dependent of the cosigner when the loan was taken. Cosigning a loan counts as a legal obligation to make the payments.
Please review the IRS Topic # 45 Student Loan Interest Deduction for more information.
Refer to the TurboTax article Where do I enter student loan interest (Form 1098-E)? for instructions.
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