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Can I deduct mortgage interest on a non-US home, which is my place of residence and my only owned home?

 
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2 Replies

Can I deduct mortgage interest on a non-US home, which is my place of residence and my only owned home?

Yes. 

pk
Level 15
Level 15

Can I deduct mortgage interest on a non-US home, which is my place of residence and my only owned home?

@rehsifgnik , Agreeing  with the short and to the point answer  by @Critter-3  to your questions, I just wonder  about the whole situation because there are lot of  assumptions we are making for the answer  --- (a) are you US citizen  / Green Card  ; (b) is/was this home your main residence   for the tax year;  (c) is your taxhome in that country where the  home is located;  (d) which country etc. etc.

It is not important that this is the only home you own --- only that you use it as your main residence and that your tax home is in the same place.  For example , you could live in the USA ( taxhome  USA)  in a rented home  ( as your main residence )  and have a second home  in Costa Rica ( for example )  where you plan to retire eventually. The mortgage interest is still deductible while you live in the USA as second home  ( within applicable limits ) and as main home  ( and for gain exclusion purposes ) when you go and retire there.

For your reference ,  ---> https://www.irs.gov/faqs/itemized-deductions-standard-deduction/real-estate-taxes-mortgage-interest-...

and of course --->  https://www.irs.gov/pub/irs-pdf/p936.pdf

 

Please answer the questions  raised above -- the  general type of answer can be more focused to your situation.

pk

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