Student loans

203008051 · ‎March 9, 2022

Hi I have a daughter who is a dependent that has a 1098-T. Am I allowed to claim this in my federal return?

I also have a son who is not a dependent that I have helped pay his Sallie Mae loan. Am I allowed to claim the loan interest?

AnnetteB6 · ‎March 9, 2022

Yes, since you are claiming your daughter as a dependent, you may be eligible to claim an education tax benefit based on her education expenses.

For your son's student loan, if you are obligated to the pay loan and you in fact did pay the loan, then you can deduct the interest that you paid as long as other qualifications (such as income limits) are met. The loan does not have to only be paid by the student.

Take a look at the following TurboTax article to learn more:

Can I claim my student loan?

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