Resident alien in CA and a co-owner of a property in my home country. Parents stay there so don't make any money out of it. Do I get a tax deduction on that?

Forum|Forum|7 years ago
June 5, 2019
6 replies
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I stayed the whole year in CA, US so I think I count as a resident alien. I am a co-owner of the house my parents currently live in. I send money for their and house's maintenance. Since I don't make money out of it do I get tax deductions for the maintenance I send?

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Best answer by pk_

Agreeing with @Carl11_2, I wonder what you mean by co-own. Does the property belong to your parents and you were gifted or expect to be the beneficiary at their passing or what? Whereas these do not make a difference in India, if you are a US resident, the type of ownership or transfer may make a huge difference when you dispose off the property.

Note also that as a second home , while property taxes and mortgage interest paid by you may be deductible , nothing else is. Also to the extent that you are personally liable for these amounts and that you actually pay, are deductible ONLY when itemized and under the current limitations).

Are you a resident or resident for tax purposes or a visitor in the USA -- what visa or is it Green Card?

Namaste ji

Carl

Level 11

My initial impression is that this is not rental property, or any other kind of income producing property. It's basically your 2nd home. That's it. All you get to claim/deduct is mortgage interest and property taxes you paid in the tax year.
Now since you are a co-owner of this property, that means you can only deduct the interest and property taxes that you "actually paid" in the tax year.

pk_

Answer

Level 15

Are you a resident or resident for tax purposes or a visitor in the USA -- what visa or is it Green Card?

Namaste ji

Carl

Level 11

@vpshastry PK is more familiar with things that can affect resident aliens than I am, so please provide the information he's requesting as it's highly possible PK may have additional information I'm not aware of, that could affect your situation. If a VISA is involved, you need to indicate what type of VISA you are here on, or came here on.