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student loan interest deduction

Level 1

I have student loan interest for a dependent of a MFJ return.  MAGI is $121,920.  For borrower, if I select 'someone else', the SS and amount disappear and isn't included in the deduction.  Why is this?  Also, why doesn't dependent show as a choice?  I've researched income limits and dependents and do not understand why this is happening.

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3 Replies 3

You cannot deduct loan interest paid on a loan in a dependen't name. If the student loan is in the taxpayer or spouse's name but was for the dependent's education, then you should select taxpayer or spouse. If the loan is in the dependent's name, parent(s) made the payments, then according to IRS rules I don't believe either can take the adjustment.

Level 1

Thank you.  I thought that was the case, but I swear I've done it before.

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Level 13

Is the taxpayer (parents?) legally obligated to pay the loan (such as a Parent-Plus loan)?  If so, the taxpayer is one of the borrowers, so enter taxpayer.  Or just skip that part and enter it on Line 1 below.

If the taxpayer/parent is not legally obligated to pay the loan, then it is not a deduction.