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Old 10-10-2005, 04:35 PM
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Interest deductability on overseas property

What is the name of your state? New York

I am planning on buying a property in India. This will be my first property. There will no rent earned on this property. HSBC's local branch in India is offering me a loan in local currency. Is the interest paid on this loan tax deductible?

I have been filing US taxes for the last four years but do not have a green card. So not sure if that changes anything.
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Old 10-10-2005, 04:47 PM
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Quote:
Originally Posted by Foreignhomebuye
What is the name of your state? New York

I am planning on buying a property in India. This will be my first property. There will no rent earned on this property. HSBC's local branch in India is offering me a loan in local currency. Is the interest paid on this loan tax deductible?

I have been filing US taxes for the last four years but do not have a green card. So not sure if that changes anything.
File this tax question in the tax law forum.
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