$26.95 
Learn more
Submitted By: Titus
Answered: June 15, 2015 8:27 am
Answered: June 15, 2015 8:27 am
I paid off my daughter’s student loans. Can I deduct this as a gift?
There is no tax deduction for gifts directly to or on behalf of individuals. Just be glad in knowing you saved your daughter future interest costs and enabled her to start off debt free.
advertisement
Featured Books
Tax Glossary
Archer Medical Savings Account (MSA)
A type of medical plan combining high deductible medical insurance protection with an IRA-type savings account fund to pay unreimbursed medical expenses.
