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Geniel
New Member

I bought a house in the Philippines and I fully paid it using a personal loan from a credit union. This means I don't have any mortgage. How can I report this?

 
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KarenJ
Intuit Alumni

I bought a house in the Philippines and I fully paid it using a personal loan from a credit union. This means I don't have any mortgage. How can I report this?

If you do not have a mortgage loan, a loan that is secured by the taxpayer's main home, then you cannot deduct the interest on the loan as mortgage interest. Personal loan interest is not deductible.

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