Tuition (Student Loan) Query
Hello -
I have a query regarding any tax amendments I can avail from previous years in terms of student loan that I took out to pay for my MBA program. The tuition and my US income were as follows:
2004: Tuition - $17,500; Income - $0 (Didn't work in the US) - No tax papers filed
2005: Tuition - $35,000; Income - $1500 (summer internship) - 1040EZ (no refund)
2006: I claimed deductions so I am okay with 2006 filing.
Note: Loan repayments started only in Nov'06
My question is since my entire MBA education was the sole reason for me to be able to change careers and have the job I have right now aka "education that is required for me to successfully do my job" - is it possible for me to go back and somehow obtain credits for the fact that I paid hefty tuition in '04 and '05 but did not have income to offset it then but rather use those deductions now when I file my '07 returns?
Would appreciate your expert inputs on the same.
Thanks,
Neo
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