Email Contact Us

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

I have a client who owns a house in India. He was to take the interest of that house off his tax return. My first question can he do this? My second question where on the tax return would I put it? If any one can help me, please

This man lives in the US. He wants me to amend his 2014,2015,2016 and add it. I would believe that it would go under foreign accounts and interest?
Deduction
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
John Stancil
If the interest expense is for payments on a mortgage on the home, and the home qualifies as his second residence, it is deductible as mortgage interest on Schedule A. If it is not his residence but is an investment, the interest may be deductible as investment interest on Schedule A. Use Form 4952 to determine if any is deductible.
Leave a Comment 375 weeks ago

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

Contact Us Today