Seatreesp
Level 1

 

Thank you for your response to my question.  

Since Intuit software does not allow me to input Form-E information indicating that the borrower is my dependent and also lists her SS#, no avenue is provided to take this student loan interest deduction.

 

That said, I believe the problem is with the software not the legitimacy of the deduction.  IRS Publication 970 states that:

Student loan interest paid on a qualified student loan includes both required and voluntarily pre-paid interest payments.  You can claim Student loan interest deduction if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2020;
  • 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
  • Neither you nor your spouse, if filing jointly, can be claimed as dependents on someone else's return.

We meet all of these conditions.

Originators of Form 1098’s usually list only one responsible party on mortgage interest statements even if others can take the deduction and are equally obligated to pay. 

I believe the same principal applies to the 1098-E we received.  Hopefully, Intuit will take a closer look at this.

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