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    Student loan interest

    Can it be taken by parents if student is a dependent of theirs even if it comes in the name and ID # of the student only?

    #2
    No. TTB 12-9, bottom left.

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      #3
      I just read this in IRS PUB, so it sounded like you could for your dependent???
      you, your spouse, or your dependent, and
      •enrolled at least half-time in a degree program

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        #4
        Originally posted by gman View Post
        I just read this in IRS PUB
        Sounds like you might mean Pub 970, p. 30? See p. 33. Example 2 is your case, I think.

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          #5
          Does this change the picture where the parents have co-signed a student loan. Student was a dependent at time of signing.

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            #6
            Originally posted by TAX4US View Post
            Does this change the picture where the parents have co-signed a student loan. Student was a dependent at time of signing.
            I believe that it does in the case of a student who defaults on the loan. If the student defaults on the loan, I would think action would be taken by the lender to force the co-signer to pay. I have never actually seen this happen, and would want to see a lot of paperwork proving it before deducting it for the parents. They are not liable when they co-sign.

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