My mom is my cosigner on my student loans and she makes the payments. I was unemployed for two years after college and was her dependent, so she claimed the student loans on her tax returns. Now I'm no longer her dependent and I have a job, but she continued to make the payments on the loans. So, do I claim the loans on my tax return because I'm no longer a dependent, or can she still continue claiming them, given she has been making the payments?
You'll need to sign in or create an account to connect with an expert.
To claim a deduction you must be legally obligated (co-signing counts) to repay the loan and you must actually make the payments. If you are no longer a dependent, payments made by you are deductible by you and payments made by your parent(s) are deductible by your parent(s).
To claim a deduction you must be legally obligated (co-signing counts) to repay the loan and you must actually make the payments. If you are no longer a dependent, payments made by you are deductible by you and payments made by your parent(s) are deductible by your parent(s).
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
lighter
Level 1
user271538941
New Member
ward3006@verizon
New Member
jeb45
Level 1
DanaBan
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.