morgage interest and real estate tax deduction for J-1 visa

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emilian

Nov 8, 2005, 02:17 PM

hi,
I am in the US for 18 months, as an exchange professional. I plan to buy a condo or co-op in NYC and would like to know if I can deduct the interest on morgage loan and the tax included in the monthly maintenance, from my taxed revenue?
thanks

AtlantaTaxExpert

Nov 9, 2005, 07:17 AM

Emilian:

Since you are under a J-1 visa, I assume you are an "exempt individual" as defined by IRS Pub 519. If so, you will file a tax return as a non-resident alien (Form 1040NR or 1040NR-EZ).

This being the case, you cannot claim mortgage interest or property taxes as an itemized deduction on the SChedule A attached to Form 1040NR.