Taxpayer has a dependent who is in college. He set up a qualified student loan in his sons name. Taxpayer (not son) has been making all interest payments for 2024. The 1099-E was issued in his sons name. Can the taxpayer deduct the interest on his tax filing?
If the taxpayer is the borrower or the co-signor on the loan and makes the loan payments, he can deduct the student loan interest on form 1098-E.
Please read this IRS document on the student loan interest deduction.
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