Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
B
Bigdawgbigbear
February 24, 2025
Question

Can someone else pay for student loan and take interest deduction?

  • February 24, 2025
  • 2 replies
  • 0 views

Hi,

 

I have a refinanced student loan that a parent is helping pay. I am not a dependent. Can my parent take the tax deduction on interest paid by them? Let me know if there are additional questions need answered. Thank you in advance!

 

 

2 replies

X
xmasbaby0
February 24, 2025

Did your parent co-sign?   Are they legally obligated to pay the loan---or just helping you out?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
O
Opus 17
February 24, 2025

If the loan is in your name but your parents pay the interest, you deduct the interest as if your parents paid you and you paid the interest.   See publication 970.

https://www.irs.gov/publications/p970#idm140647358456160

TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsCookie settingsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

Manage Cookies

TRUSTe nResult Certified e-File C-Level Security Certification