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harshil
Mar 2, 2008, 03:45 PM
I have been going through this forum and it has really helped me solve a lot of questions. Just one thing I could not find an answer to.

If I have been repaying a student loan (in India) in 2007 with considerable interest payment over the year, can I claim that interest in 1040NR/1040NR-EZ as deduction? I am a citizen of India and was on F1 till Oct 2007 when my status changed to H1-B. I am still planning to use 1040NR-EZ.

Also just in case I am able to deduct the interest paid for the loan, what proof do I need to furnish to IRS. The loan was taken from a bank in India.

Thanks a lot for the help,
Harshil

MukatA
Mar 2, 2008, 10:03 PM
No the interest on the loan taken from an Indian bank is not deductible, unless the bank made payments directly to your school for tuition fees.

bjih_86
Mar 18, 2009, 06:19 AM
No the interest on the loan taken from an Indian bank is not deductible, unless the bank made payments directly to your school for tuition fees.

So if I have a student loan from a foreign government (NZ) that paid tuition directly to the institution (in NZ). Can I deduct the interest accrued for 2008 on my 2008 US tax return?

MukatA
Mar 18, 2009, 07:06 AM
It must be U.S. institution. You will get 1098-T for tuition and fees paid from the educational institution.

bjih_86
Mar 18, 2009, 07:13 AM
It must be U.S. institution. You will get 1098-T for tuition and fees paid from the educational institution.

Thanks MukatA!