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nishjambu
Returning Member

If i paid of an overage child's student loan directly to the lender(was over 19000), do I have to show in turbo tax filing somewhere?

 
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4 Replies

If i paid of an overage child's student loan directly to the lender(was over 19000), do I have to show in turbo tax filing somewhere?

Student loan payments are not entered on a tax return.

DawnC
Employee Tax Expert

If i paid of an overage child's student loan directly to the lender(was over 19000), do I have to show in turbo tax filing somewhere?

No.  You are not required to provide that information.   You may qualify for a deduction if you're legally obligated to pay interest on a qualified student loan.

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nishjambu
Returning Member

If i paid of an overage child's student loan directly to the lender(was over 19000), do I have to show in turbo tax filing somewhere?

Isn't it form 709 to report lifetime gifting? Does turbotax include that?

AmyC
Expert Alumni

If i paid of an overage child's student loan directly to the lender(was over 19000), do I have to show in turbo tax filing somewhere?

Yes, Form 709 is for gifting. Since you gave more than $19,000 in 2025 you do file Form 709 - unless you have an exception as co-signor on the loan. Then you are legally obligated and it is not a gift.

The gift tax return is a separate return and not part of  your personal return. Even though you need to file, you won't owe tax unless you have exceeded your lifetime exemption, currently around $15M.

The Form 709 must be mailed in. You will want to send it certified mail, no signature. Keep a copy for your records. 

 

Reference: About Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return

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