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Level 1
October 25, 2023
Question

Co signed student loan

  • October 25, 2023
  • 1 reply
  • 8 views

I cosigned a sally mae student loan for my child . I repay the loan( the student who is primary does not pay anything) can I file this on my taxes?

1 reply

Level 5
October 25, 2023

Hello TH5353350, I hope your day is going well! You are allowed claim student loan interest for yourself, your spouse, or for someone who was your dependent at the time the loan was taken out. You must be legally obligated to pay the loan as well.

 

If you cosign and are legally responsible, and the child was your dependent at the time the loan was taken out. Yes, you can claim the student loan interest paid.  I have added a link to IRS resource. 

 

https://www.irs.gov/taxtopics/tc456