Greta
Level 9
02-18-2022
09:39 AM
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The loan amount vanishes when I say the loan is in "someone else's name". The someone else is the student dependent of TP. Not deductible?
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jeffmcpa2010
Level 11
02-18-2022
10:01 AM
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Student loan interest is only deductible to the person who's name the loan is in.
TaxGuyBill
Level 15
02-18-2022
11:23 AM
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You should check if the loan is ONLY in the student's name. Sometimes both the parent and student are on the loan, in which case it is would be deductible to the parent.
qbteachmt
Level 15
02-18-2022
02:34 PM
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Filing status and MAGI matter, too:
https://www.irs.gov/taxtopics/tc456
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