ari1
New Member

Can I claim student loan interest if the loan was from a non-US bank?

I'm on F1 Visa (OPT), Can I claim student loan interest paid on my taxes if the lender is an Indian bank? 

JulieH1
New Member

Education

You are entitled to the deduction for student loan interest up to the limit specified if you meet the conditions. There is no requirement that the bank institution be a U.S. based bank, etc.

As long as you are subject to U.S. taxation (by virtue of your residence status) you may avail yourself of all available deductions the same as any U.S. citizen.

As long as your loan proceeds were spent on qualifying education expenses with a qualifying institution and you were a qualifying student and you meet the filing status and income limitation requirements, you may deduct the interest.

Generally, a student temporarily present in the U.S. under an "F," "J," "M," or "Q" visa, who substantially complies with the requirements of the visa is considered a nonresident alien.  And if that's the case, you may not need to file 1040 using Turbo Tax.

Turbo Tax is partnered with Sprintax, you will be able to file a non-resident tax return using the link below:

https://www.sprintax.com/non-resident-alien-tax-1040nr-turbotax.html

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ari1
New Member

Education

Thank you