AnnieR Posted March 3, 2012 Report Share Posted March 3, 2012 Parents have son who is 20 who is their dependent. He has obviously been in college (or took out student loans) but is not a student in 2011. He had income of only $475, plus a grant of $500. He (or somebody else, probably parents) paid student loan interest of $975. I understand the grant will be taxable to the son, which won't make any difference, but because the son is a dependent, can the parents deduct the loan interest paid. Thanks for any ideas...I have some for the son, but that's just my opinion. AnnieR Quote Link to comment Share on other sites More sharing options...
grandmabee Posted March 3, 2012 Report Share Posted March 3, 2012 no , if they are not legally liable to pay loan even if they paid they can't deduct. who's name is the 1098E in? even if the student needed to deduct the interest if they didn't pay they can't 1 Quote Link to comment Share on other sites More sharing options...
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