Discussion:Student loan interest original student no longer a dependent

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Revision as of 13:04, 13 March 2008
Kevinh5 (Talk | contribs)
(let me introduce)
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Proptaxguy (Talk | contribs)
(To quote Riley2)
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{{ForumReplyPost|UserID=Kevinh5|Date=13 March 2008|Text=let me introduce you to the search field in yellow to the left. This has been answered many times.}} {{ForumReplyPost|UserID=Kevinh5|Date=13 March 2008|Text=let me introduce you to the search field in yellow to the left. This has been answered many times.}}
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 +{{ForumReplyPost|UserID=Proptaxguy|Date=13 March 2008|Text=To quote Riley2 in a previous thread.."Assuming that you are personally and directly liable on the loans, then the answer is yes. However, if you are not personally and directly liable on the loan, then only your son may deduct the interest that you pay. }}

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Discussion Forum Index --> Advanced Tax Questions --> Student loan interest original student no longer a dependent
Discussion Forum Index --> Tax Questions --> Student loan interest original student no longer a dependent

Tinleycpa (talk|edits) said:

13 March 2008
Can a parent claim student loan interest after their child grows up and is no longer their dependent?

I have three clients, where the parent's have got student loans to pay for their kid's college tuition. At the time, the kid's were dependent's of the parents.

Now the kid's are out of college, working and no longer a dependent of the parent. The problem is it doesn't look like they can the parents can still claim because the kids are no longer their dependents.

I have read a couple of things that lead me to believe that they can't. Can any one point me to something authoritative that is clear on this point?

Kevinh5 (talk|edits) said:

13 March 2008
let me introduce you to the search field in yellow to the left. This has been answered many times.

Proptaxguy (talk|edits) said:

13 March 2008
To quote Riley2 in a previous thread.."Assuming that you are personally and directly liable on the loans, then the answer is yes. However, if you are not personally and directly liable on the loan, then only your son may deduct the interest that you pay.
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