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

SinkLine:

You can claim ALL of the mortgage interest against your pension, no problem.