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Get your taxes done using TurboTax
If you purchased an apartment in India to then rent it out, add any costs you incurred for the purchase to your Cost Basis (price you paid) when setting up your rental property on your 2025 return.
This will then calculate depreciation for you using that total amount. You'll be able to claim mortgage interest and property tax you pay as Expenses for your rental property on Schedule E.
For your 2024 return, you can claim any Mortgage Interest/Property Tax you paid in December 2024 as an itemized deduction on Schedule A.
Here's more info on Foreign Rental Income and Depreciating Foreign Property.
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‎April 2, 2025
11:53 AM
3,510 Views