Question

I would like to know more about claiming dependent student loan interest. If I claim my son as a dependent, can I deduct his qualified student loan interest on my tax return?

Answer

Dependent student loan interest can be claimed on your tax return under certain circumstances. You can claim interest on a qualified student loan you took out for your dependent as long you meet both of these:

  • The loan was in your name.
  • You paid the interest on it.

You can’t deduct qualified student loan interest payments you paid on a loan in your dependent’s name. Neither of you can deduct the loan interest if both of these are true:

  • You claim the student as a dependent.
  • You pay the student’s loan interest.
     

Related Topics

Related Resources

Learn How To Deduct Business Expenses

Need some tips on how to deduct business expenses? Learn more from the tax experts at H&R Block.

Deducting Business Vehicle Expenses

Can you deduct business vehicle expenses on your taxes? Learn more about business vehicle deductions and get tax answers at H&R Block.

File Back Taxes For Last Year

How should you file back taxes for last year, as well as taxes for this year? Learn more from the tax experts at H&R Block.

Claiming and Determining Who Qualifies as a Dependent

Can you claim your daughter's significant other and his child as dependents? Find your tax answers from H&R Block.