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Budmeister
Level 3
March 30, 2026

co signer on student loan

  • March 30, 2026
  • 1 reply
  • 4 views

a friend was a cosigner on a student loan that went into default-  the friend paid the loan- is there any way to have a tax deduction?  Is  it a non-business bad debt-  any other way to handle?

Appreciate thoughts

    1 reply

    T
    TaxGuyBill
    Level 15
    March 30, 2026

    It sounds like a nice friend.

    But it doesn't sound like a qualified student loan of the friend.

    https://www.irs.gov/publications/p970#en_US_2025_publink1000178237

     

    But it might be considered as the friend is paying in behalf of the student, in which case the student might be able to deduct it.

    https://www.irs.gov/publications/p970#en_US_2025_publink1000178276

     

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