Yes - you can
deduct student loan interest from a foreign country, as long as the
loan meets the requirements of being a student loan (a qualified
student loan is a loan you took out solely to pay qualified higher education
expenses) and you have legal obligation to make the loan payments.
The year-end statement is sufficient enough to claim the
interest. When going through Turbo Tax interview, simply enter the name of your
Lender and amount in box 1, as if 1098-E form is received.
To enter student loan interest paid:
- Federal Taxes
- Deductions & Credits
- Education
- Select Student Loan Interest Paid (Form 1098-E) - follow the prompts
Note: amounts must be entered in U.S. dollars
on the U.S. tax return. You may use "government resources" or
"external resources" in the below link for conversion:
https://www.irs.gov/Individuals/International-Taxpayers/Foreign-Currency-and-Currency-Exchange-Rates OR https://www.irs.gov/Individuals/International-Taxpayers/Yearly-Average-Currency-Exchange-Rates
