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Can I deduct Foreign Home Loans in the Philippines (Pre-construction Real Estate Investment 2018)?
Hi ! I'm a legal permanent resident here in the U.S., and this is my 2nd time filing for taxes. I need your expertise please!
I had bought 2 houses in the Philippines in June 2018 and they are both pre-construction and will be turned over to us by August 2019 . We are planning to have it rented. I paid for the down payments and loaned remaining balance from 2 separate Philippine banks and I just started paying the mortgage in the last quarter of the year. Can I deduct them? Thank you so much in advance! God bless! :]
‎December 27, 2018
7:37 AM