student loans

If as a parent I co-sign a student loan and although the loan is deferred I as the parent make some payments on the loan, do I still deduct that on my taxes? or is the premise that the student loan is dedictible by the student only?

posted

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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