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chris11xb

Canadian tuition/student loans after becoming PR in US?

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Filed: K-1 Visa Country: Canada
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Hi all, I have a question about education in Canada after becoming a US resident.

First, here's my scenario: I am moving on the K1 visa, but will not only have Canadian student loan interest to claim for taxes for many years into the future, but also I will continue to pay Canadian tuition to my university as a distance studies student (for many years to come).

So, here are my questions for anyone who has this experience:

1) Is it possible to claim Canadian student loan interest on US taxes, or must I continue to file a Canadian tax return for every year I have this credit/deduction?

2) Is it possible to claim my Canadian tuition on US taxes, or must I continue to file a Canadian tax return for every year I continue to pay Canadian tuition?

I've read up on US tuition credits, etc, but want to make sure what any obligations are to filing Canadian taxes, rather than assuming. If I can get through, I might also call CRA to ask this question.

Any experiences with either of these scenarios is appreciated. Thank you.

Lori (and Chris)

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Filed: Country: Canada
Timeline

Hi all, I have a question about education in Canada after becoming a US resident.

First, here's my scenario: I am moving on the K1 visa, but will not only have Canadian student loan interest to claim for taxes for many years into the future, but also I will continue to pay Canadian tuition to my university as a distance studies student (for many years to come).

So, here are my questions for anyone who has this experience:

1) Is it possible to claim Canadian student loan interest on US taxes, or must I continue to file a Canadian tax return for every year I have this credit/deduction?

2) Is it possible to claim my Canadian tuition on US taxes, or must I continue to file a Canadian tax return for every year I continue to pay Canadian tuition?

I've read up on US tuition credits, etc, but want to make sure what any obligations are to filing Canadian taxes, rather than assuming. If I can get through, I might also call CRA to ask this question.

Any experiences with either of these scenarios is appreciated. Thank you.

Lori (and Chris)

1) No it is not .. and in order to get the credit in Canada, you must be a Canadian resident. So no on the second point as well.

2) Canadian tuition is not eligible for the Hope Scholarship or the tuition and fees deduction or for the lifetime learning credit. So tou will not be able to deduct these expenses.

Once you file your leaving Canada return, you most likely will not be required to file any further taxes in Canada. You can take any credits you were eleigible for in Canada as a pro rata share of the time you were a Canadian resident for tax purposes.


Knowledge itself is power - Sir Francis Bacon

I have gone fishing... you can find me by going here http://**removed due to TOS**

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Filed: K-1 Visa Country: Canada
Timeline

Just in case this may help someone else as well...

I also asked my question earlier on the Serbinski tax forums and was told the same thing about not claiming education on Canadian taxes after my move - as I won't be filing Canadian taxes, as I won't have any residential ties.

However, today it was suggested I look into two things: 1) The IRS Tax Benefits Guide for Higher Education, and 2) whether or not my university is an "Eligible Education Institution" in the eyes of the IRS/FSA.

Interestingly, while it may not always be the case I suppose, my school currently is recognized by the IRS and has the appropriate IRS tax paperwork, FSA (federal student aid) code, etc. My institution said they have other American students requiring this paperwork, so in fact they were well aware of my situation and tax prep needs.

It appears my tuition payments will be considered for US credits, according to the definitions and qualifications met in the IRS Tax Benefits Guide for Higher Education, and with the agreements between my school and the FSA. So, it was definitely worth checking around.

Zyggy, thank you for your input. I am sure my situation is likely a unique one with many schools likely not being recognized by FSA or the IRS. Thankfully, it seems I may be able to claim a few things but I will seek professional assistance, to be sure, when the time comes down the road.

By the way, if anyone needs it, the IRS Tax Benefits Guide for Higher Education is Publication 970 and is available at www.irs.gov.

Lori (and Chris)

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