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-   -   Foreign Mortgage Interest Deduction (https://www.askmehelpdesk.com/showthread.php?t=317481)

  • Feb 15, 2009, 03:07 AM
    sinkline
    Foreign Mortgage Interest Deduction
    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
  • Mar 5, 2009, 03:28 PM
    AtlantaTaxExpert
    SinkLine:

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

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