Education

If you co-signed then you can deduct the interest that YOU paid for her student loan.   We cannot advise you as to how to get her to pay her loan herself.  That is a legal issue; we cannot give legal advice.

 

 

 

STUDENT LOAN INTEREST

Only the person whose name is on the student loan and who is legally obligated to pay the loan can deduct the student loan interest. If you co-signed then you are legally obligated to pay if the primary borrower defaults or does not pay.    If you did not sign or co-sign for the loan you cannot deduct the interest.

 

WHERE DO I ENTER STUDENT LOAN INTEREST

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/enter-student-loa...

 

 

The student loan interest deduction can reduce your taxable income by up to $2500

There is a phaseout for the Student loan interest deduction, which means the amount you can deduct gets reduced when your modified adjusted gross income hits certain income levels and is even eliminated at certain income levels -  

 

You cannot deduct student loan interest if you can be claimed as a dependent or if you file as married filing separately

 

There are phaseout amounts that are set for income levels according to your filing status, such as single, head of household, qualified surviving spouse or married filing jointly.

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/claim-student-loa...

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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