I am an international student on my F-1 Visa. I have taken my student loan for my education from a foreign bank, in the financial year of 2023. This foreign bank has provided me with these two forms: W-8BEN-E and W-8IMY. I am currently filing my taxes using TurboTax, and I am unsure where I have to specify this information.
I am on my F-1 Student Visa. So technically I am a non-resident alien.
P.S. I do pass the Substantial Presence Test, which makes me a "U.S. Person" according to https://www.irs.gov/pub/irs-pdf/p519.pdf
No. If you are still in your 5 yr exemption period, you are not allowed to become a Resident Alien until that period has ended. You would not file your return with Turbo Tax but with our affiliate at Sprint Tax as a non-resident alien.
As far as forms W-8BEN-E and W-8IMY, these are withholding certificates that are to be presented to employers for tax withholding purposes. The W-8BEN is given to a US employer and Form W-8IMY, is a Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches for United States Tax Withholding and Reporting. These are not reported in your tax return but presented elsewhere. Please read this for more information regarding W-8 reporting.
As far as your student loan is concerned, I am not sure why these forms would be issued because the loans are not taxable income nor can these be claimed as an education credit since you are a non-resident for tax reporting purposes.