If I payoff my son's student loan can I deduct any of the payment from my taxes even though I can not claim him as a dependent?

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    First, only student loan interest paid is deductible, not the total payments.  Second, are you a co-signer on the loan?
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    If you are legally liable for the loan and you paid on the loan in 2012, you can deduct the interest paid on the loan.  The interest is an adjustment to income on your return.
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    • How do you enter the student loan interest for my son that I paid when I can't claim him as a dependent?
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