I am a resident alien. Last year I took a mortgage loan (to purchase residential land in my home country, it does not yet have a home constructed on it). The loan was taken from the foreign bank (ie, in my home country).
Should this loan granted amount to purchase the residential land be reported in any form such as 3520 ?
Is it considered as foreign trust distribution even if it is from a Bank?
NOTE: The loan amount was paid by bank to seller and property title was transferred to me.
