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itsrkkishore
Mar 4, 2009, 08:01 AM
Hi,

Some of my friends told that we can cliam the other country home mortgage loan in US tax returns even if you don't have house in US. Is this true? If so upto how much we can cliam.

I am on H1 and this year i am filling the tax returns jointly. I have house only in India.

Thanks in Advance

Regards
Kishore
MukatA
Mar 4, 2009, 10:38 PM
This deduction is itemized deduction. You will take deduction only if your itemized deductions are more than your standard deduction, which is unlikely in your case. Read: Your U.S. Tax Return: Itemized Deductions (http://taxipay.blogspot.com/2008/05/itemized-deductions.html)