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OneSolution
Feb 16, 2010, 08:37 AM
I came to USA in 2006 and got a Scholarship LOAN from a Association in UK of $ 3500 ( Check was sent directly to University in Pound Currency from UK) . At that time I was on F1 visa and filed as Nonresident tax.

Now I am on H1b and will file as Resident.

This year I have to payback my loan back to the association who gave me the loan.

If I payback the Loan amount, Can I file for the deduction for the same amount when I file for next year?

I have two options, pay the loan back from India or USA!

What would be the best option to go about?

Thanks

MukatA
Feb 17, 2010, 06:31 AM
Loan amount payment is not deductible.