Dependent with Student Loans
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Returning Member

Dependent with Student Loans

Our son finished College in May of 2018. We, his parents, are paying for his student loans.

He is living with us, but only received a Gross income of 2665.00 from last quarter of last year.

My question is three fold,

Does he need to file a return, or should he? He paid  Fed Tax of $225.00.

Can we, or should we claim him as a Dependent? added note, our combined income is over 160K

Can, or should we claim his higher education interest?  added note, our combined income is over 160K.

1 Reply
Level 15

Dependent with Student Loans

Does he need to file a return, or should he? He paid  Fed Tax of $225.00.  He files to get a refund of the taxes withheld ... but he is still your dependent.

Can we, or should we claim him as a Dependent? added note, our combined income is over 160K  He is your dependent period.

Can, or should we claim his higher education interest?  added note, our combined income is over 160K.  Neither of you  will get a deduction for the student loan interest in this situation and you can only claim it if you pay it and the 1098-E is in your name. 

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