Canada Student loan interest - IRS rejection?

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fiestagirlCanuckAbroad Regular
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Joined: 23 Aug 2008

Canada Student loan interest - IRS rejection?

Post Thu Jan 12, 2012 11:48 am

Hi, I have student loan interest from Canada student loans, provincial and a private bank. The IRS has come back to me and said that I owe more tax because they couldn't substantiate the loan interest. I submitted the documents I received at year end with the letter they sent back to them (official tax receipts). They have rejected that.

I searched these forums and found that a form has to be submitted - 1040x. I am wondering if this is why they rejected my official tax receipts or if it is for another reason. They said on their rejection letter that they couldn't substantiate the student loan interest, so pay up.

Thoughts anyone?
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agnelsonCanuckAbroad VIP
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Re: Canada Student loan interest - IRS rejection?

Post Thu Jan 12, 2012 1:45 pm

follow up on this with me at forums.serbinski.com

I don't know what tax receipts you are referring to, as I don't know of sa tax reciept tha would specifically list the interest you paid. It does sound like it is just a matter of providing better info from your loan account.

it does not sound like they are deeming that your Cdn education expenses don't qualify for the loan deduction, which is good.
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fiestagirlCanuckAbroad Regular
Topic author
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Joined: 23 Aug 2008

Re: Canada Student loan interest - IRS rejection?

Post Thu Jan 12, 2012 7:25 pm

anyone else have any useful input?

agnelson - you may not be familiar with canadian loans, but you get statements that say what interest you paid.
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AGNCanuckAbroad VIP
Posts: 818
Joined: 21 Jun 2011

Re: Canada Student loan interest - IRS rejection?

Post Thu Jan 12, 2012 8:09 pm

whatever the "statement" was. it wasn't enough for IRS, eh? you said a tax receipt.

I told you where I will give more elaborate answer.
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