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June 1, 2019
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Can I claim my daughter's student loan interest if I'm a cosigner, I do NOT claim her as a dependent and am the only person who made payments on the loan last year?

  • June 1, 2019
  • 1 reply
  • 0 views

TurboTax does not provide a way to enter the interest amount unless I claim that the loan is in my name.  My SSN is not on the 1098-E, nor is my daughter's SSN on my tax return as she is not a dependent.  

Best answer by Howard1948

If you meet the conditions for deducting student loan interest, just indicate to TT that you are the borrower since you are obligated to pay on the loan. From IRS Publication 970 re student loan interest:

Generally, you can claim the deduction if all of the following requirements are met.

  • Your filing status is any filing status except married filing separately.

  • No one else is claiming an exemption for you on his or her tax return.

  • You are legally obligated to pay interest on a qualified student loan.

  • You paid interest on a qualified student loan.

1 reply

June 1, 2019

If you meet the conditions for deducting student loan interest, just indicate to TT that you are the borrower since you are obligated to pay on the loan. From IRS Publication 970 re student loan interest:

Generally, you can claim the deduction if all of the following requirements are met.

  • Your filing status is any filing status except married filing separately.

  • No one else is claiming an exemption for you on his or her tax return.

  • You are legally obligated to pay interest on a qualified student loan.

  • You paid interest on a qualified student loan.