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Hi from just Answer. I'm PDtax. I can assist.
As you know, the loan in your name does not lend itself to anyone else claiming the interest deduction. Unless, he agrees to join you on the loan.
He could just simply have his name attached to the loan as a co-debtor. Easy to do if your loan is serviced locally. Harder, and might need an attorney's services, if it isn't held locally.
Or, you could refinance the debt, and he could take it over in a refinance. Maybe lower rate, lower payments, as another option.
Either way, he can't deduct the interest on a loan he is not liable for in some fashion. The deduction can't be assigned or transferred.
There just isn't an easy way that this can be done. But, if he wants the deduction, owning the debt as a codebtor or as the borrower would be worthwhile.
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