The purchase of real estate abroad doesn't generally have to be reported to the IRS. However, you have to report any transfers of funds over $10,000 that you make to a foreign bank account intending to buy a property abroad, though.
If this is a second personal home you can deduct, to the extent you itemize your deductions, the mortgage interest. Since 2017, you are unable to deduct the taxes.
Thank you for your question @cmallow17
All the best,
Marc T.
TurboTax Live Tax Expert
27 Years of Experience Helping Clients
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