sinkline
Feb 15, 2009, 03:07 AM
HELLO,
I am a retired teacher living in Ireland. I own a pprimary home and a holiday home in Ireland. I am aware that my mortgage interest is deductible on my IRS form I submit from Ireland.
The question is: My mortgage interest is just about equal to my U.S. pension. That is the only income that I have from the U.S. My wife and I work over here and live off that income. Our foreign income is below the 86,000 cut off so it is not taxable in the U.S.
Can I claim all of the mortgage interest off my pension income or must some of it be allocated to my foreign income therefore lowering the deduction from my pension?
THANK YOU
I am a retired teacher living in Ireland. I own a pprimary home and a holiday home in Ireland. I am aware that my mortgage interest is deductible on my IRS form I submit from Ireland.
The question is: My mortgage interest is just about equal to my U.S. pension. That is the only income that I have from the U.S. My wife and I work over here and live off that income. Our foreign income is below the 86,000 cut off so it is not taxable in the U.S.
Can I claim all of the mortgage interest off my pension income or must some of it be allocated to my foreign income therefore lowering the deduction from my pension?
THANK YOU