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Can a cosigner on a student loan (who's paid a small portion…

Can a cosigner on a...
Can a cosigner on a student loan (who's paid a small portion of interest) use the primary borrower's 1098E to take a student loan interest deduction if the primary borrower isn't using it?
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3/13/2018
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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You can claim the deduction if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2017;
  • You're legally obligated to pay interest on a qualified student loan;
  • Your filing status isn't married filing separately;
  • Your MAGI is less than a specified amount which is set annually; and
  • You or your spouse, if filing jointly, can't be claimed as dependents on someone else's return.

REFERENCE SOURCE:

https://www.irs.gov/taxtopics/tc456

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