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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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?
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.