 | 
10-10-2005, 04:35 PM
| | Junior Member | | Join Date: Oct 2005
Posts: 2
| | | 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. |
10-10-2005, 04:47 PM
| | Senior Member | | Join Date: Aug 2005 Location: St. Odo of Cluny Parish
Posts: 28,187
| | 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.
__________________
There are two rules for success:
(1) Never tell everything you know.
| |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | | | Thread Tools | | | | Display Modes | Rate This Thread |  Linear Mode | | 
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off | | | |
|
All times are GMT -5. The time now is 11:24 PM.
