Our dependent child received a 1098-E for the $556.34 paid on a student loan while still a full-time student. They also received the following documents: W-2, 1098-T, 1099-Misc, and 1099-INT.
Because the loan is in our child's name, TurboTax says we cannot use the interest payment as a deduction on our parent tax return. And, TurboTax says our child cannot deduct the payment on their taxes because they are our dependent.
Is there some way for either of us to claim what seems like a valid deduction?
If not, am I supposed to still enter the 1098-E on the tax return somewhere? If so, how?
