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helpwithtaxes

Junior Member
What is the name of your state? NC
My son's status is independent and he took out a loan for school. It did not cover all his expenses, so we took out a Parent Loan. I have read on this forum that educational or medical bills paid for another, regardless of the relationship, is tax deductible. Does it matter that this is a loan and will be paid back over time. The loan is in our name. Thanks.
 


Snipes5

Senior Member
You can only claim a deduction or education credit for monies paid for the tuition and fees of someone who is your dependent on your tax return.

You can claim medical expenses for someone who would be your dependent, but for failing the gross income test.

If your son is independent and you do not claim him on your taxes, you cannot get these deductions/credits.

Snipes
 

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