Can I claim my adult (age 24) child's college loan interest ($254) even though he's not a Dependent on my 1040?
I'm filing married-jointly, and my AGI and modified AGI is well below the threshholds (165,000 and 195,000, respectively) for claiming the loan interest. He is not planning to claim the interest on his 1040. Thanks.
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Only if you are the borrower or co-signer and you repaid the student loan.
Please read this IRS document for more information.
Did you sign or co-sign the student loan? Only the person(s) legally obligated to pay the student loan can enter the interest paid on their tax return.
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