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Level 1

Tax credit

I have taken parent plus loan under my parents name. In 2020 tax file, they won't claim me as a dependent. Can they still claim educational credit? If not, who can?

3 Replies
Level 15

Tax credit

Taking a loan is irreverent to filing a tax return.


If you are a dependent then only the taxpayer claiming you as a dependent can claim educational credits.    If you are not claimed as a dependent by anyone then you can claim your own educational credits.     (Educational credits go with the dependent).

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Level 1

Tax credit

But federal parent plus loan will be under my parents name. If the loan is under their name,  will i still be able to claim that credit in my tax?

Employee Tax Expert

Tax credit

Yes. You can claim the education credit even if the loan is in your parent’s name.


The IRS says if someone other than you, your spouse, or your dependent (such as a relative or former spouse) makes a payment directly to an eligible educational institution to pay for an eligible student's qualified education expenses, then the student is treated as receiving the payment from the other person and, in turn, paying the institution.


See Expenses paid by others.

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