"ravi" <ravip...[at]gmail.com> wrote:

- quote -

There is no deduction for paying the principle amount of a
loan.

- quote -

The cost of travel from home to work and back home is not
deductible. The amount of loan payments is not the amount
deductible in any case.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"ravi" <ravip...[at]gmail.com> wrote:

- quote -

There is no deduction for paying the principle amount of a loan.

- quote -

The cost of travel from home to work and back home is not
deductible. The amount of loan payments is not the amount
deductible in any case.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"ravi" <ravip...[at]gmail.com> wrote:

- quote -

For the interest, yes.

- quote -

Your use of the car is for commuting to work, which is never
deductible. The interest on the loan is also personal,
which also is nondeductible.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I am from India and I did my post graduation from Texas A&M
University. Now I am on H1B visa and working in USA. I am
repaying the education loan in India that I took for my
education at USA. Can I claim deduction for that?

Another question:
I bought a car for exclusively traveling to work. Can I
claim deduction for the car loan repayments?

Please let me know.

Thanks

Ravi

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >