topic Student Loan Interest Deduction in Deductions & credits

Student Loan Interest Deduction

sbl447 — Mon, 23 Feb 2026 09:49:20 GMT

I (stupidly) co-signed a student loan for a family friend, who now is rarely making payments. As the co-signer who has made at least 80% of 2022 payments, can I claim the interest? If so, how do I get a 1098 form, since they only send that to the primary borrower? (All they sent me was the total amount.) I would have to only claim part of the interest total (my portion), so the amount I claim would be different from what is on the 1098 anyway. Would this throw up a red flag? And what if he tries to claim the interest, too?

Re: Student Loan Interest Deduction

Hal_Al — Sun, 29 Jan 2023 18:11:50 GMT

Q. As the co-signer who has made at least 80% of 2022 payments, can I claim the interest?

A. No, unless the friend was you dependent, at the time he was going to school. You can only claim student loan interest for yourself, your spouse or your dependents (or former dependents).

Q. And what if he tries to claim the interest, too?

A. That may actually be allowed, under the theory that your paying the expense is just a gift to him, and it was therefore really his money that paid it.

Re: Student Loan Interest Deduction

Critter-3 — Sun, 29 Jan 2023 18:36:30 GMT

Find a way for the friend to refinance the loan and get you off of it.