topic Re: 1098-E in Education

1098-E

SuperMoo22 — Thu, 13 Feb 2020 21:14:36 GMT

Hi,

Quick question. I am the co-signer on my sons student loan. The 1098-E has come to his name only, even though on-line I see my name as the co-signer. My question is Can I claim this under my taxes if he does not. Thanks

Re: 1098-E

Bsch4477 — Thu, 13 Feb 2020 21:26:40 GMT

Generally, you can claim the deduction if all of the following requirements are met.
• Your filing status is any filing status except married filing separately.
• No one else is claiming you as a dependent on his or her tax return.
• You are legally obligated to pay interest on a qualified student loan.
• You paid interest on a qualified student loan.

From what you posted, not only can you claim the interest deduction but if he is your dependent he cannot.

Re: 1098-E

DavidD66 — Thu, 13 Feb 2020 21:27:54 GMT

Yes, if you are legally obligated to repay the loan (which you are) you may deduct the interest on the loan.