STUDENT LOAN INTERET IN DEPENDENT'S SSN

[Greta]

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?

[jeffmcpa2010 · Accepted solution]

Student loan interest is only deductible to the person who's name the loan is in.

[TaxGuyBill]

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]

Filing status and MAGI matter, too:

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