Posted on: 21st May, 2009 06:37 am
I am thinking of buying a property in London, UK. I have already two properties in the USA.
Can I deduct from my US income tax the interest from a mortgage of property I bought in the UK if I live in California?
Can I deduct from my US income tax the interest from a mortgage of property I bought in the UK if I live in California?
That question is one you should pose to your accountant.
Yes you can deduct the interest you pay on your property regrdless of where you have your property.
You pay taxes based on your gloabl income and you are eligible to deduct interest regrdless of where you have your property.
Only thing would be since you already have 3 propeties, I am assumign you are deducting interest on all of them. You probably may max out on the amount of deduction you can take.
Good luck
You pay taxes based on your gloabl income and you are eligible to deduct interest regrdless of where you have your property.
Only thing would be since you already have 3 propeties, I am assumign you are deducting interest on all of them. You probably may max out on the amount of deduction you can take.
Good luck
