Ask Experts Questions for FREE Help !
Ask
    houstonSay's Avatar
    houstonSay Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Apr 10, 2005, 03:16 PM
    1040NR or 1040 if 1040 returns are more
    Thanks AtlantaTaxExpert you are AWESOME :) Thanks for all who help us.

    I am qualified for 1040NR and I filled out both forms 1040NR-EZ and 1040 to check.

    1) Can I claim qualified education expenses? Because I pay the loan of 5400 and also paid around 250$ of interest.

    If I add 5400 as qualified education expenses in 1040, I am getting 800$ more. Is it okay to add "qualified education expensis" because Turbo tax allowed it to add.

    Thanks in advance for your kind help

    Regards
    JOJI
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 11, 2005, 07:30 AM
    Joji:

    If you file as a nonresident alien, you can deduct the $250 in interest paid on your student loans. However, you cannot claim any education credit or deduction for the tuition you paid.

    If you file as a resident alien, you can deduct the $250 in interest paid on your student loans, and claim the education credit or deduction for the tuition you paid.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

1040NR or 1040? [ 2 Answers ]

Hi, I would like some help with my situation: 1. I am a Canadian Citizen 2. I worked in the US on TN and H1-B from July 2000 until mid-2004. 3. I re-entered the US on F1 in July 2004. 4. Until 2004, I filed as a resident (since I was on H1-B). 5. Last summer on CPT (as an F1), I...

1040NR or 1040? [ 1 Answers ]

Hi, I was on an F1 visa until Sept 30th 2005. From October 1st 2005, my status changed to H1B. Now, for my 2005 tax return, if I file 1040NR - can I claim both the $3200 deduction and the $5000 Tax treaty deduction? Will the $5000 tax treaty deduction still be valid even though I was not on...

F1/opt- 1040 or 1040nr ? [ 3 Answers ]

Hi, I am an Indian Citizen in US on OPT(F1 Visa). I am Single with no dependents. I was wondering which Form do I need to file - 1040 or 1040NR. I am having around $30000 wage income and $100 taxable interest income to report. So I was thinking of filing 1040NR but I would like to add ...

Regarding 1040/1040NR [ 1 Answers ]

Hi, I was working on OPT till end of September 2004 and then on H1 visa from October 1, 2004. I was also outside US for 30 days in November 2004. I am filing my taxes for 2004 now. Reading through all the posts I understand that I will need to file 1040NR as I don't meet the substantial test. ...

1040 instead of 1040NR [ 3 Answers ]

Hello, I just eFiled my tax return for 2004 and immediately realised that I used 1040 instead of 1040NR. What do I do now? I am a student from India on F1 for the entire 2004. Any help in this matter would greatly be appreciated. Srikaran

View more questions Search