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Topic: US tax deduction for UK mortgage?  (Read 949 times)

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US tax deduction for UK mortgage?
« on: July 26, 2010, 10:38:08 AM »
Can you take the US mortgage interest deduction for a home in the UK? I wasn't able to find anything from the IRS stating whether your home needs to be in the US to qualify for the deduction.

(This of course assumes that you are one of those unlucky souls who owes US taxes at the end of the year despite living abroad).

Thanks in advance!
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Re: US tax deduction for UK mortgage?
« Reply #1 on: July 26, 2010, 12:26:33 PM »
Yes you can take it for a foreign home.
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Re: US tax deduction for UK mortgage?
« Reply #2 on: July 26, 2010, 09:12:51 PM »
But a UK mortgage is not really a great deal from a US tax perspective if you are unlucky enough to make a foreign exchange gain on redeeming a UK mortgage.
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