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You will be able to deduct your home mortgage interest and any property taxes (in USD).
Please note that you will only be able to deduct any foreign property taxes if they are assessed uniformly against all property under the jurisdiction of the taxing authority. So if the property taxes on your Mexican home are similar to the property taxes charges on other Mexican properties in the area, then you will be able to deduct them.
To enter your Property Taxes in TurboTax Online or Desktop (for TurboTax Online sign-in, click Here), please follow these steps:
To enter your Mortgage Interest in TurboTax Online or Desktop, please follow these steps:
It is OK to show your foreign mortgage interest under the 1098 section of Schedule A.. If you are contacted by the IRS, you will just need to provide an explanation of your situation (that your mortgage interest is from a foreign bank and provide the IRS with the details of this loan)
You will be able to deduct your home mortgage interest and any property taxes (in USD).
Please note that you will only be able to deduct any foreign property taxes if they are assessed uniformly against all property under the jurisdiction of the taxing authority. So if the property taxes on your Mexican home are similar to the property taxes charges on other Mexican properties in the area, then you will be able to deduct them.
To enter your Property Taxes in TurboTax Online or Desktop (for TurboTax Online sign-in, click Here), please follow these steps:
To enter your Mortgage Interest in TurboTax Online or Desktop, please follow these steps:
It is OK to show your foreign mortgage interest under the 1098 section of Schedule A.. If you are contacted by the IRS, you will just need to provide an explanation of your situation (that your mortgage interest is from a foreign bank and provide the IRS with the details of this loan)
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