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thewall20
New Member

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

 
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12 Replies
PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Are you the student? And are you a dependent of the co-signer?
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thewall20
New Member

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

I am the student (have since graduated) and I'm not a dependent of primary (he's my uncle).
PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Ok, are you having issues entering the 1098-E?
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thewall20
New Member

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

No, but the info I'm reading is contradictory. The  examples suggest that I should get the deductions since I'm paying. When I click the button for someone else's name then a blurb pops up saying otherwise. I continue to enter the amount of interest paid and afterwards it still says $0
PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Sometimes neither person is allowed the deduction.  See the learn more link in the 'someone' else paragraph. However, if you are a co-signer you are legally obligated to pay the loan and should be able to take the deduction. Choose your name if your name is also listed on the loan documents (not someone else)
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thewall20
New Member

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

But my name isn't on the 1098-E form. Can I still put my name?
PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Is the loan in your name/uncles' name or uncle only?
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thewall20
New Member

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

It is in his name. I was the student and co-signer, and the only one paying.
PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Select your name. You can take the deduction. Let me know if it gives you an amount.
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thewall20
New Member

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

It did. I entered the interest paid amount of 505.87 and it shows 506.00
PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Yay! I will summarize below.
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PaulaM
Employee Tax Expert

I'm trying to enter a 1098-E form but my name isn't on it as I was the co-signer and the one making all the payments. When I look at the examples it says that the one who is making the payments should

Even if your name is not on the 1098-E form, then you can take the deduction because you are a co-signer. This makes you obligated to pay the loan amount. Select 'yourself' in the 1098-E section and enter the interest amount.

You can claim the deduction if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2017;
  • You can take the deduction as a student, or as a parent making payments on your dependent student’s loan. However, you or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.
  • You're legally obligated (co-signer) to pay interest on a qualified student loan;
  • Your filing status isn't married filing separately;
  • Your MAGI is less than a specified amount which is set annually; and

A qualified student loan is a loan you took out solely to pay qualified higher education expenses that were:

  • For you, your spouse, or a person who was your dependent when you took out the loan;
  • For education provided during an academic period for an eligible student; and
  • Paid or incurred within a reasonable period of time before or after you took out the loan.

https://ttlc.intuit.com/questions/1901536


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