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How do I claim interest paid on a Student loan from a bank in Canada for an institution attended in the USA on my US resident alien taxes?

 
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3 Replies
DawnC
Expert Alumni

How do I claim interest paid on a Student loan from a bank in Canada for an institution attended in the USA on my US resident alien taxes?

If you paid less than $600 in interest, you might not have gotten a 1098-E from your lender. If you're not sure how much you paid, contact your lender.  You don't need to attach your 1098-E to your return.   It is entered in Deductions and Credits section, under Education, Student Loan Interest Paid.  

 

***The student loan has to be in your name.

 

 

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How do I claim interest paid on a Student loan from a bank in Canada for an institution attended in the USA on my US resident alien taxes?

Do I just input the CAD dollar amount if the student loan interest was paid in Canadian currency? 

ThomasM125
Expert Alumni

How do I claim interest paid on a Student loan from a bank in Canada for an institution attended in the USA on my US resident alien taxes?

You would have to convert the Canadian Currency amount into US dollars. You could do that by using the average exchange rate for the year as you probably made payments during several months of the year.

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