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#6
03-21-2005, 06:59 AM
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 Re: If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column? Nan, I understand taking a deduction on foreign property taxes, but have not seen anything about claiming mortgage interest on a foreign residence. Is this an implied understanding where the IRS does not indicate that mortgage interest has to be on US soil? Or is there something more definitive out there? Thanks << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
03-18-2005, 12:42 PM
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| Re: If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column? santa19992000[at]yahoo.com wrote: - quote - > If I buy land/home outside US (in Canada/Europe/Asia), does
Not when you buy it, whether it's in the US or elsewhere.> I have to report on tax returns?. I didn't see any column?. > Please let me know how can I show?. But you do have to report any income from it, either from rental or sale, regardless of where it is. Katie in San Diego The foregoing is intended for educational purposes only and does not constitute legal or professional advice. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
03-18-2005, 12:42 PM
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| Re: If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column? <santa19992000[at]yahoo.com> wrote: - quote - > If I buy land/home outside US (in Canada/Europe/Asia), does
No need to report purchases. But if you sell then yes,> I have to report on tax returns?. I didn't see any column?. > Please let me know how can I show?. wherever that property is, as long as you are a US resident, you'll have to report that. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
03-18-2005, 11:07 AM
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| Re: If I buy land/home outside US, does I have to report on tax "santa19992000[at]yahoo.com" <santa19992000[at]yahoo.com> wrote: - quote - > If I buy land/home outside US (in Canada/Europe/Asia), does
Show what? You don't report the purchase of property as> I have to report on tax returns?. I didn't see any column?. > Please let me know how can I show?. INCOME. Primarily because it's NOT income..... -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
03-17-2005, 06:30 AM
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| Re: If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column? santa19992000[at]yahoo.com wrote: - quote - > If I buy land/home outside US (in Canada/Europe/Asia), does
No one reports buying land or homes. You ARE required to> I have to report on tax returns?. I didn't see any column?. > Please let me know how can I show?. report the sale of homes or land where ever they are. And you can use the property tax and interest paid as itemized deductions. Nan, EA in LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
03-17-2005, 04:54 AM
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| Re: If I buy land/home outside US, does I have to report on tax returns?. santa19992000[at]yahoo.com wrote: - quote - > If I buy land/home outside US (in Canada/Europe/Asia), does
There is no requirement to report a purchase whether it is> I have to report on tax returns?. I didn't see any column?. > Please let me know how can I show?. located in the US or outside of the US. -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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03-17-2005, 04:16 AM
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| Re: If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column? <santa19992000[at]yahoo.com> wrote: - quote - > If I buy land/home outside US (in Canada/Europe/Asia), does
No> I have to report on tax returns?. -- Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
03-14-2005, 02:07 AM
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| If I buy land/home outside US, does I have to report on tax returns?. I didn't see any column? If I buy land/home outside US (in Canada/Europe/Asia), does I have to report on tax returns?. I didn't see any column?. Please let me know how can I show?. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| buy, column, land or home, report, returns, tax |
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