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Foreign Tax Credit Form 1116: Mortgage Interest

3503 Views 2 Replies 2 Participants Last post by  wombat53
Hi - Am wondering abut Question 4a), "Deductible Home Mortgage Interest". My question is - is home mortgage interest paid on a FOREIGN home also deductible, or is this question related only to a US home, where we all know that Mortgage interest is deductible?
Many thanks
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Thanks Bev - Since I posted that question, I have read more Forums , and people seem pretty sure that , like all such deductions, it belongs on Sch A ,and that the entirety of Mortgage interest can be deducted (so long as the several conditions are met). That the property is in a foreign country is irrelevant. I only stumbled across it in the fine print of Instructions for Form 1116. Indeed, no-one (except me) ever mentioned it with regard to F1116, esp as this is primarily for a Credit against foreign taxespaid, vs. a deduction for income. Any ideas?
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