oconnorsdxb
Feb 3, 2009, 05:35 AM
Hi,
We are US expats in Dubai. We are Bona Fide Residents of Dubai, UAE and file a US 1040 (and utlize the Foreign Earned Income Exclusion).
This is a two part question.
One - can we deduct the Mortgage Interest on the home? Can't find anything in IRS Publications that states 'where' the Primary Residence has to be located. So I believe I can. If I can, what form will be required to submit with my tax return as the bank does not provide an interest statement like they do in the USA?
Two - as we just bought it in 2008 - what deductions for the 'closing' costs, bank fees, loan fees, agent commissions would be deductible? If any? And again, what documentation would be required to submit with return as we will not receive a "HUD Statement"? Cancelled checks with invoices?
Thanks so much
We are US expats in Dubai. We are Bona Fide Residents of Dubai, UAE and file a US 1040 (and utlize the Foreign Earned Income Exclusion).
This is a two part question.
One - can we deduct the Mortgage Interest on the home? Can't find anything in IRS Publications that states 'where' the Primary Residence has to be located. So I believe I can. If I can, what form will be required to submit with my tax return as the bank does not provide an interest statement like they do in the USA?
Two - as we just bought it in 2008 - what deductions for the 'closing' costs, bank fees, loan fees, agent commissions would be deductible? If any? And again, what documentation would be required to submit with return as we will not receive a "HUD Statement"? Cancelled checks with invoices?
Thanks so much