If I payed off my student loan in a foreign country (Mexico) last year, can I deduct taxes from that debt?
in my american tax return? I am filing single, in the state of Washington and itemizing.
The loan generated interest which is what I would like to be able to deduct…
You can if you paid student loan interest on a qualified student loan. Principal payments do not count. Also, if you make enough money, you cannot deduct all or any of the interest, which you might check into if you earned over $100k.
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This entry was posted on Tuesday, May 19th, 2009 at 9:33 pm and is filed under new mexico student loans. Follow the comments through the RSS 2.0 feed. You can post a comment, or leave a trackback.
no. Not because it is Mexican, but because repaying a loan does not give rise to a deduction. getting a loan is not income and repaying it is not a loss.
References :
May 20th, 2009 at 2:48 am
You can if you paid student loan interest on a qualified student loan. Principal payments do not count. Also, if you make enough money, you cannot deduct all or any of the interest, which you might check into if you earned over $100k.
References :
May 20th, 2009 at 2:58 am