QUESTION
Can I deduct student loan interest as a co-signer?
Asked on Jun 12th, 2014 on Taxation - Georgia
More details to this question:
It is my daughter's loan thru Sallie Mae that I have been paying totally.
1 ANSWER
4 Awards
If you are legally obligated to pay the loan as a co-signer, then you may be able to deduct the interest. You should make sure that your daughter does not try to also deduct it. You should also have the lender issue the 1099 to you. But ideally, do not take the deduction without consulting an actual income tax return preparer who is more familiar with the rules and your actual situation.
Answered on Jun 13th, 2014 at 4:10 PM
This answer is being provided as general information and not as legal advice. No attorney-client relationship is created by this answer.