My son is a student is attending a US college. He received a scholarship and his school sent him a 1098-T form. He does no income, he has a student loan and line of credit. Does he file taxes in Canada and the US? If anyone knows how to file taxes in the US as a Canadian please share as well...
Your son has a student loan and line of credit. He should file a Canadian tax return. When he begins to repay these loans, he will be able to deduct their interest on your tax return. However, if he takes out additional student loans from foreign institutions, he will not be able to deduct their interest on his future tax returns.
For more information, please see our TurboTax link as Filing Taxes When You Study Abroad
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Your son has a student loan and line of credit. He should file a Canadian tax return. When he begins to repay these loans, he will be able to deduct their interest on your tax return. However, if he takes out additional student loans from foreign institutions, he will not be able to deduct their interest on his future tax returns.
For more information, please see our TurboTax link as Filing Taxes When You Study Abroad
Thank you for using TurboTax
Thank you for the response,
How do you file it if there is no income or T4s? There is a US form he received...can I file on Turbo Tax? I called a US accounting firm and their answer was clear as mud. Thanks!
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