Now that I’ve turned 24, Who can/should file the 1098-e? My parent or me?

[medimo1]

I turned 24 in 2017 and my parent who co-signed for and paid my student loan interest last year and in years past has always claimed me as a dependent and received the 1098-e for paying my interest. But since I turned 24 In 2017, (also full time student, live with parents, and my job wage was about 6k) and can no longer be claimed as a dependent, who should now claim the 1098-e loan interest credit? Me even though I personally did not make any payments or my parent who made all the interest payments but can no longer claim me as a dependent?

[DeniseF1 · Accepted solution]

You would claim the deduction.  Since your are not a dependent on their tax return, then your parents cannot claim the student loan interest that they paid.

The only way they can report student loan interest as a parent is if they are claiming the child you as a dependent AND legally responsible for the loan, meaning they are the signer or co-signer.

[Edited: 2/17/18 1:36PM]

[lfoxworth1978]

You would claim the deduction.  Since your are not a dependent on their tax return, then your parents cannot claim the student loan interest that they paid.

The only way they can report student loan interest as a parent is if they are claiming the child you as a dependent AND legally responsible for the loan, meaning they are the signer or co-signer.