[trojanengineer]

Hi,

I started my MS in August 2005 and I graduated in May 2007. I had taken student loan for the entire tution fees. I paid $1400 of interest in 2007 for my student loan and I am going to file that as one of the deductions in 2008. Can I also claim my tution fees as a deduction in 2008 tax return ?

If yes, I didn't claim my 2006 tution fees as a deduction when I filed my 2007 tax return. Can I claim that now ?


Thanks

[AtlantaTaxExpert]

If you are filing as a resident alien or U.S. citzien, then you CAN claim the tuition credit or tuition deduction for your Master's degree tuition.

You can do this for 2005 and 2006 by amending your tax returns for those years, provided you PAID tuition in those years.

For 2007, you should claim the deduction for the upcoming tax return.

For 2008, no tuition creidt will be available, but you can deduct the interest from the student loans if your income is NOT TOO HIGH!

If you need professional help with this, contact me via email at [email protected].

[trojanengineer]

Thanks for the reply.

I will contact you once I will get my W-2 and I am ready to file the tax return.

I was on F-1 Visa and during my MS and now I am on H-1, can I still file my deduction of MS tuition fess of 2005, 2006 and 2007 ? I did pay tuition in 2005, 2006 and 2007.

So for the upcoming tax return due in April 2008 which years tuition fee deduction I can file ?

[AtlantaTaxExpert]

Okay, if you are under a F-1, then H-1 visa, the n cntact me at [email protected].

Unfortunately, if you were under the F-1 visa during 2005 and 2006, you were a non-resident alien and NOT eligible to claim the tuition credits.

If you are MARRIED, you can claim it for 2007. Otherwise, no for 2007 as well.

[csipe1]

I started my MS in August 2000 and I graduated in May 2004. I had taken student loan for the entire tuition fees. I paid $280.00 of interest in 2007 for my student loan and I am going to file that as one of the deductions in 2008. Can I also claim my tuition fees of $1,332.00 as a deduction in 2008 tax return ?

If yes, I didn't claim my 2006 tuition fees as a deduction when I filed my 2007 tax return. Can I claim that now ?

[csipe1]

Yes, I'm married now. Does that mean I can use the tuition fee I paid in 2006 as well as 2007 when I file my 2007 tax return?

[AtlantaTaxExpert]

If you entered the U.S. in 2000 under a F-1 visa and never left the U.S. you became a resident alien for tax purposes on 1 January 2005.

For tax years 2005 and later, you should file as a RESIDENT alien, filing Form 1040 or 1040A.

You can deduct boht student loan interest and claim tuition credits/deduction for 2005 and later if your income is not too high.

[trojanengineer]

hi,

Even though I was non-resident alien, I filed form 1040 resident alien form last year. So,
I have to amend it this year. Would it be OK if I first file my this year tax return then after couple of months filed the 1040x for the last year ?