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I payed graduate degree tuition fees in a foreign currency (€). How do I enter this?

I converted the fees back into USD using the posted exchange rate for that specific date. Tuition receipts are recorded in Euro only.
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2 Replies
GeoffreyG
New Member

I payed graduate degree tuition fees in a foreign currency (€). How do I enter this?

It appears that you've done the currency conversion portion of your question correctly already (i.e., taking into account the Euro / USD exchange rate effective on the date or dates you made your payments).

That said, to the extent these payments were for tuition or fees (but not textbooks, living expenses, or such other costs), then you can deduct them in the Education Expenses section of TurboTax . . . but simply tell the program here that you don't have a Form 1098-T (and then answer the subsequent follow-up questions to indicate that you're "exempt" from needing one).

Also, please keep in mind that you won't be eligible for the American Opportunity Credit (as a graduate student), and that the rules for what educational expenses can be included for for the Lifetime Learning Credit or Tuition & Fees deduction are somewhat more limited than with the AOC.

Additionally, if your university was located outside the United States (you did pay your costs in Euros, after all), then there may be further restrictions on what, if anything, you can deduct for tuition and fees costs.  Basically, you must have attended a degree program at an "Eligible Educational Institution" as defined by the IRS.  For further details on what that means, please see Page 22 of IRS Publication 970 (Tax Benefits for Education) as found at the following link:

https://www.irs.gov/pub/irs-pdf/p970.pdf


For that matter, you may wish to also read (or skim) the material found in the broader Chapter 3 (Lifetime Learning Credit) for additional relevant information.

If you're having any difficulty in finding the educational expenses section of TurboTax in the first instance, then you can follow these mechanical instructions to get there.  Please remember that having a Form 1098-T is not necessary in order to claim educational tax benefits.

  • Click on "Federal Taxes" at the top
  • Click "Deductions & Credits
  • Click "I'll choose what I'll work on" to see a list of deductions & credits topics
  • Click "Expenses & Scholarships" under the "Education" Section
  • TurboTax will ask you a series of questions about any fees you've paid for your education

Thank you for asking this question.

I payed graduate degree tuition fees in a foreign currency (€). How do I enter this?

Hello,

I am also a graduate student at an eligible foreign university. However, I am paying the rate of students in that country rather than the rate for international students due to a family formation visa. Would my tuition still be eligible for a deduction?

Thank you!
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