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    aiyer100's Avatar
    aiyer100 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 8, 2007, 04:34 PM
    Loan interest deductions: H1B
    Folks,
    I am an Indian citizen and in the US on an H1 B visa and paid interest for a student loan (from a bank in India) last year. Can I claim deductions for that in Form 1040A?
    2 of my concerns are :
    1. Can this be applied for student loans from other countries?
    2. Can a person on H1B visa claim this exemption?
    Thanks
    Anand
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 17, 2007, 10:40 AM
    1) To claim student loan interest on a U.S. tax return, the loan MUST be from a U.S. financial institution.

    2) You can deduct student loan interest whether you file as a resident, non-resident or dual-status alien, provdied you meet the income restrictions.
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