Question

Taxes paid question on International 2nd home

Forum|Forum|3 years ago
March 24, 2023
1 reply
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Hi All,

I have an International home which had filed in IRS (2016-2018) as 2nd home and after that since i paid in full there were no deductions for interest paid on loan.
To give a little background, I currently have 1 primary residence in US and 2 rental properties i am claiming deductions for and this international property is 2nd home non rented.
Last year i paid 7 years taxes on this international property and would like to claim the deductions if possible on taxes 2022 tax year this month. Can anyone advise if i can deduct taxes paid as deduction for 2nd home?
please ask any additional context you need so i can provide that information.

A

AnnetteB6

You cannot deduct the foreign property tax you paid on your international second home as part of Schedule A Itemized Deductions. The instructions for Schedule A specifically disallow the deduction of 'foreign personal or real property taxes'.

Form 1116 also cannot be used to deduct or claim a credit for the taxes you paid because they are not an income tax.

See the references below for further information:

Schedule A - Taxes You Can't Deduct

Foreign Taxes that Qualify for the Foreign Tax Credit - Form 1116

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