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-   -   Student on OPT can deduct India Loan? (https://www.askmehelpdesk.com/showthread.php?t=198456)

  • Mar 25, 2008, 10:37 AM
    cpk0061
    Student on OPT can deduct India Loan?
    Hi Experts,

    Here are my questions...

    While students working on OPT and transferring to H1B status.

    1) Is there a chance of showing any relocation expenses?

    2) Can a loan taken in India for Master's degree(USA) can be shown as deductible?

    3) I had a surgery last year and my insurance covered most part of it and I have paid
    Some part of it(80:20) can I claim it?

    When a person prepares tax should he definitely enter his tax id number...

    4) Can a person refile his tax returns(Stupid Question)

    Thanks...
  • Mar 26, 2008, 03:10 AM
    MukatA
    1. Yes you can deduct moving expenses to start a new H1-B job. You must stay in the job for 39 weeks in the year.
    More on moving expenses: Your U.S. Tax Return: Moving Expenses

    2. Yes, you can takes student loan interest deduction if you meet the requirements.Read more at Your U.S. Tax Return: Student Loan Interest Deduction

    3. Your tax return must have SSN or ITIN

    4. Yes you can always file amended tax return (Form 1040X).

    5. On resident tax return, the medical expenses over 7.5% of AGI can be deducted as itemized deduction.

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