Christian Posted March 9, 2021 Report Posted March 9, 2021 A couple is sending their daughter through college. She is in her second year. The couple took out a student loan for some $5,000 plus to help cover tuition but the loan is in their daughter's name. In reading the credit rules it looks to me the couple can still take the credit using the amount of the loan. Is this correct ? Quote
Yardley CPA Posted March 9, 2021 Report Posted March 9, 2021 Based on my understanding and the information you present, you can, yes. 2 Quote
Pacun Posted March 9, 2021 Report Posted March 9, 2021 Yes, as long as it is not scholarship and grants, no matter who pay or get the loans... the credit follows the exemption of the student. 3 Quote
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